+ All Categories
Home > Documents > CNBC Fed Survey - August 11, 2011

CNBC Fed Survey - August 11, 2011

Date post: 07-Apr-2018
Category:
Upload: cnbc
View: 221 times
Download: 0 times
Share this document with a friend

of 14

Transcript
  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    1/14

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    2/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj 6 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    6, Ihv }`h{j vj{shlmjl}{ w`h vjsaejm Uj{ }h qzj{}ehl +?, @hw aovgj mh uhzjpsjk} }`j ljw qzol}e}o}eyj svhgvob weaa fj hyjv }`j ljp} ujov (?6 bhl}`{%8Sajo{j mh lh} elkazmj vjelyj{}bjl} hi bo}zvelg {jkzve}ej{,

    -;77

    -960

    -3

    -?33

    -633

    -;33

    -=33

    -:33

    -933

    -733

    Oyjvogj (El Feaaehl{%

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    3/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ; hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ;, Mh uhz ossvhyj hv me{ossvhyj hi }`j Ijm'{ ollhzlkjbjl} }`o} e} jpsjk}{ }hdjjs e}{ }ovgj} Ijm Izlm{ vo}j &jpkjs}ehloaau ahw& }`vhzg` o} ajo{} bem"63?;8

    ;?*

    67*

    ?6*

    ?6*

    0*

    0*

    =*

    3* :* ?3* ?:* 63* 6:* ;3* ;:*

    [}vhlgau Ossvhyj

    Bhmjvo}jau Ossvhyj

    [aeg`}au Ossvhyj

    Ljz}voa

    [aeg`}au Me{ossvhyj

    Bhmjvo}jau me{ossvhyj

    [}vhlgau Me{ossvhyj

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    4/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj = hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    =, El omme}ehl }h e}{ bem"63?; {}o}jbjl}! }`j Ijm {`hzam oa{h>

    Vj{shlmjl}{ khzam {jajk} bhvj }`ol hlj hi }`j ae{}jm hs}ehl{! {h sjvkjl}ogj{ jqzoa bhvj

    }`ol ?33*

    [zvyju vj{shlmjl}{ wve}j"el emjo{>

    Ahwjv hv jaebelo}j el}jvj{} vo}j hl vj{jvyj{ (=% Ollhzlkj =* }ovgj} eliao}ehl vo}j (6% Fzu {}hkd{ (?% Ollhzlkj }`j szvsh{j hi _J e{ ok`ejyjboel}oel ol okkjs}ofaj ajyja hi lhbeloa GMS gvhw}`

    o} = }h : sjvkjl} (?%

    Lhl"vjkhzv{j ahol{ }h jlkhzvogj jpsol{ehl hi bhv}gogj ajlmelg (?%

    =9*

    ;0*

    ;:*

    67*

    ?6*

    0*

    3* ?3* 63* ;3* =3* :3* 93*

    Elkvjo{j }`j bo}zve}u hi e}{ shv}ihaeh

    fu fzuelg ahlgjv"mo}jm ]vjo{zvej{

    Fzu bhvj ]vjo{zvej{

    [zvyju vj{shlmjl}{' wve}j"el emjo{

    Fzu h}`jv o{{j}{ fj{emj{ ]vjo{zvej{!{zk` o{ bhv}gogj{

    Mh lh}`elg

    Sjg }`j uejam hi ?3"ujov ]vjo{zvej{ihv o {sjkeiejm obhzl} hi }ebj

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    5/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj : hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    :, @hw whzam uhz k`ovok}jve~j }`j Ijm'{ kzvvjl} bhlj}ovu shaeku8

    9, W`jvj mh uhz jpsjk} }`j [)S :33 {}hkd elmjp weaa fj hl 8

    =?*

    :6*

    ;*

    :*

    69*

    :6*

    ?6*

    ?3*

    3* ?3* 63* ;3* =3* :3* 93*

    ]hh okkhbbhmo}eyj

    Nz{} veg`}

    ]hh vj{}vek}eyj

    Mhl} dlhw(Zl{zvj

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

    ?;9=

    ?=6?

    ?6:6

    ?;?3

    ?!?:3

    ?!633

    ?!6:3

    ?!;33

    ?!;:3

    ?!=33

    ?!=:3

    Mjkjbfjv ;?! 63?? Nzlj ;3! 63?6

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    6/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj 9 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    7, W`o} mh uhz jpsjk} }`j uejam hl }`j ?3"ujov ]vjo{zvu lh}j weaa fj hl 8

    0, W`o} e{ uhzv ihvjko{} ihv }`j ujov"hyjv"ujov sjvkjl}ogj k`olgj el vjoa Z,[,

    GMS8

    ;,=?*

    ;,7:*

    6,9?*

    6,55*

    3,3*

    3,:*

    ?,3*

    ?,:*

    6,3*

    6,:*

    ;,3*

    ;,:*

    =,3*

    Mjkjbfjv ;?! 63?? Nzlj ;3! 63?6

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

    $6,=7*

    $6,0:*

    $?,09*

    $6,=7*

    3,3*

    3,:*

    ?,3*

    ?,:*

    6,3*

    6,:*

    ;,3*

    63?? 63?6

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    7/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj 7 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    5, W`jvj mh uhz jpsjk} }`j Ijm Izlm{ }ovgj} vo}j weaa fj hl 8

    3,??*

    3,?;*

    3,6:*

    3,6?*

    3,=7*

    ?,3?*

    3,3* 3,6* 3,=* 3,9* 3,0* ?,3*

    Mjkjbfjv ;?! 63??

    Nzlj ;3! 63?6

    Mjkjbfjv ;?! 63?6

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    8/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj 0 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ?3,W`o} e{ }`j svhfofeae}u! el uhzv hselehl! }`o} jok` hi }`j ihaahwelg khzl}vej{

    weaa mjioza} hl e}{ mjf} el }`j ljp} }`vjj ujov{8 (3*2Lh k`olkj hi mjioza}!

    ?33*2Kjv}oel}u hi mjioza}%

    Gjvbolu! Ivolkj! olm Zle}jm Delgmhb wjvj lh} elkazmjm el }`j Nzau 63 {zvyju

    :6*

    =0*

    6=*

    0;*

    60*

    =*

    =:*

    ;7*

    6;*

    73*

    6:*

    6*

    6*

    ;*

    6*

    3* ?3* 63* ;3* =3* :3* 93* 73* 03* 53* ?

    Shv}zgoa

    Evjaolm

    E}oau

    Gvjjkj

    [soel

    Zle}jm [}o}j{

    Gjvbolu

    Ivolkj

    Zle}jm Delgmhb

    Nzau 63 [zvyju Ozgz{} ?? [zvyju

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    9/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj 5 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ??,El }`j ljp} ?6 bhl}`{! w`o} sjvkjl} svhfofeae}u mh uhz saokj hl }`j Z,[,

    jl}jvelg vjkj{{ehl8 (3*2Lh k`olkj hi vjkj{{ehl! ?33*2Kjv}oel}u hi

    vjkj{{ehl%

    3*

    :*

    ?3*

    ?:*

    63*

    6:*

    ;3*

    ;:*

    3* ?3* 63* ;3* =3* :3* 93* 73* 03* 53* ?33*

    Oyjvogj Svhfofeae}u hi

    Vjkj{{ehl> ;=,3*

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    10/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ?3 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ?6,Z{elg }`e{ fo{ek [}olmovm ) Shhv{ {koaj! w`o} kvjme} vo}elg whzam uhz geyj }h

    jok` hi }`j ae{}jm khzl}vej{8

    ?32OOO Jp}vjbjau {}vhlg kosoke}u }h bjj} ielolkeoa khbbe}bjl}{, @eg`j{} Vo}elg,

    52OO Yjvu {}vhlg kosoke}u }h bjj} ielolkeoa khbbe}bjl}{,

    02O [}vhlg kosoke}u }h bjj} ielolkeoa khbbe}bjl}{! fz} {hbjw`o} {z{kjs}efaj }h omyjv{j jkhlhbek khlme}ehl{ olm k`olgj{ el kevkzb{}olkj{,

    72FFF Omjqzo}j kosoke}u }h bjj} ielolkeoa khbbe}bjl}{! fz} bhvj {zfnjk} }h omyjv{j jkhlhbek khlme}ehl{,

    92FF Aj{{ yzaljvofaj el }`j ljov"}jvb fz} iokj{ bonhv hlghelg zlkjv}oel}ej{ }h omyjv{j fz{elj{{! ielolkeoa olm jkhlhbek khlme}ehl{,

    :2F Bhvj yzaljvofaj }h omyjv{j fz{elj{{! ielolkeoa olm jkhlhbek khlme}ehl{ fz} kzvvjl}au `o{ }`j kosoke}u }h bjj} ielolkeoa khbbe}bjl}{,

    =2KKK Kzvvjl}au yzaljvofaj olm mjsjlmjl} hl ioyhvofaj fz{elj{{! ielolkeoa olm jkhlhbek khlme}ehl{ }h bjj} ielolkeoa khbbe}bjl}{,

    ;2KK Kzvvjl}au `eg`au yzaljvofaj,

    62K Kzvvjl}au `eg`au yzaljvofaj hfaego}ehl{ olm h}`jv mjieljm kevkzb{}olkj{,

    ?2M Soubjl} mjioza} hl ielolkeoa khbbe}bjl}{,

    5,5

    5,0

    5,7

    5,:

    5,6

    0,5

    0,9

    9,5

    9,=

    ;,6

    ? 6 ; = : 9 7 0 5 ?3

    Gjvbolu

    Kolomo

    Zle}jm [}o}j{

    Zle}jm Delgmhb

    Ivolkj

    Nosol

    K`elo

    E}oau

    [soel

    Gvjjkj

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    11/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ?? hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ?;,W`o}{ }`j feggjv molgjv }h }`j Z,[, jkhlhbu8

    ?=,W`o} e{ uhzv o}}e}zmj }hwovm omme}ehloa ghyjvlbjl} {}ebzaz{ lhw }h fhh{}

    }`j Z,[, jkhlhbu

    Ioeazvj }h gj}

    }`jghyjvlbjl}'{

    mjieke} zlmjv

    khl}vha qzekdaujlhzg`

    =;*

    Vjmzkelgghyjvlbjl}{sjlmelg }hh

    qzekdau

    :7*

    Ljyjv ogoel

    6:*

    Ljz}voa

    ==*

    Ljjm e} lhw;?*

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    12/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ?6 hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    ?:,W`o} e{ uhzv svebovu ovjo hi el}jvj{}8

    Khbbjl}{>

    Gzu AjFo{! Nollju Bhl}ghbjvu [kh}}> ]`j jkhlhbek mjfo}j jbjvgelg el vjkjl} mou{olm wjjd{ `o{ kjl}jvjm hl w`j}`jv }`j Z,[, jkhlhbu weaa ioaa fokd el}h hv oyhem vjkj{{ehl,

    Ivhb hzv sjv{sjk}eyj! }`o} mjfo}j be{{j{ }`j shel}! o{ je}`jv wou! gvhw}` e{ aedjau }h fj {zf"

    sov ihv {jyjvoa ujov{ }h khbj,

    @old [be}`! @oyjvihvm Elyj{}bjl}{> Wj ljjm ie{koa {}ebzaz{ lhw fz} lh} el }`j ihvb hi

    elkvjo{jm {sjlmelg! fz} vo}`jv o bhvj svh"gvhw}` }op khmj (e,j, ahwjv bovgeloa vo}j{ fh}`khvshvo}j olm elmeyemzoa% olm o vhaafokd hi vjgzao}ehl{, Bhlj}ovu shaeku `o{ mhlj jlhzg``joyu aei}elg, E}'{ lhw }ebj ihv svh"gvhw}` ie{koa shaeku/

    K`om Bhvgolaolmjv! [}eija Lekhaoz{> ]`j kzvvjl} {e}zo}ehl e{ mulobekoaau zl{}ofaj, ]`jZle}jm [}o}j{ `o{ }h khl}jlm we}` o bhmjvo}ehl hi gvhw}` olm }`j }`vjo} hi ie{koa oz{}jve}u,

    ]`e{ weaa ijjm el}h o {ahwmhwl el jovlelg{, ]`j Jzvhsjol{ bz{} {hayj }`j svhfajb hi hyjvelmjf} olm lo}ehl{ olm mjyjahs o vjajo{j bjk`ole{b }h oaahw }vhzfajm bjbfjv{ }h jpe} }`j

    Jzvhsjol bhlj}ovu zlehl, Gvhw}` okvh{{ }`j gahfj e{ {ahwelg, ]`j zleiejm bjo{zvj{ }odjlel 6335 }h }vol{ijv mjf} ivhb }`j sveyo}j foaolkj }h }`j szfaek foaolkj {`jj} wo{ o mvjomiza

    be{}odj,

    Nh`l Do}}ov! Jo{}jvl Elyj{}bjl} Omye{hv{> O} Nokd{hl @haj! wj weaa je}`jv {jj olh}`jvaovgj {koaj o{{j} szvk`o{j! hv o vjmzk}ehljaebelo}ehl hi }`j el}jvj{} vo}j soem hl ivjjvj{jvyj{ o} }`j Ijm,

    Bovd Ye}ljv! Wjaa{ Iovgh> E whzam fj el ioyhv hi omme}ehloa ie{koa {}ebzaz{ ei E }`hzg`} e}khzam fj mhlj wjaa, E mh lh} `oyj bzk` khliemjlkj }hmou! `hwjyjv,

    Jkhlhbek{=0*

    Jqze}ej{?7*

    Iepjm Elkhbj?:*

    Kzvvjlkej{6*

    H}`jv

    ?7*

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    13/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ?; hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    Aull Vjo{jv! Shel} Ahbo Loyovjlj Zleyjv{e}u> ]`j ve{d hi mjiao}ehl `o{ vj}zvljm }h o

    ihkz{ hi bhlj}ovu shaeku o{ }`j Ijm omhs}{ }`j {jkhlm hs}ehl hz}aeljm fu K`oevbol Fjvloldj

    o} Nokd{hl @haj o ujov ogh, (Hs}ehl ? wo{ _J;%, ]`j Z,[, e{ bhyelg }hwovm{ o &}eg`}ie{koajo{u bhlju shaeku& khbfh we}` qzj{}ehlofaj vj{za}{ o{ }`j svhkj{{ hi khl{zbjvmjajyjvogelg khl}elzj{, W`eaj }`j Ijm khlkjl}vo}j{ hl ieg`}elg }`j kzvvjl} ve{d{ hi mjiao}ehl

    olm vjkj{{ehl! e} khzam fj voe{elg }`j iz}zvj ve{d{ hi o{{j} svekj fzffaj{ hv eliao}ehl,

    Moyem Ghjv~! @eg`bovd Kose}oa> ]`j Ijm'{ bolmo}j hi svekj {}ofeae}u weaa }vzbs olu ofeae}u

    }h svhbe{j ahw vo}j{ zl}ea 63?;, Eliao}ehl hi 6";* e{ oavjomu fjkhbelg jl}vjlk`jm olm ahh{jbhlj}ovu shaeku ve{d{ jyjl `eg`jv eliao}ehl }`o} khzam fjkhbj elkvjo{elg meiiekza} }h khl}oel,

    ]`j Ijm {`hzam khl{emjv ahwjvelg }`j el}jvj{} vo}j e} sou{ hl fold vj{jvyj{ ahlg fjihvj jyjl

    khl}jbsao}elg _J";,

    Oaol Dvoa! ]vjyhv [}jwov} Fzv}hl ) Nokhf{jl> Ie{koa shaeku e{ sovoau~jm! bhlj}ovu hz} hi

    fzaaj}{

    Khl{}olkj @zl}jv! Oaommel Kose}oa> ]`jvj ovj ihzv vjo{hl{ w`u ahlgjv mzvo}ehl Z,[,uejam{ weaa {}ou ahw> ?% [ahw gvhw}` olm hlau el}jvbe}}jl} eliao}ehl svj{{zvj{ hl khbbhme}ej{!

    6%sjlmelg ie{koa khl{haemo}ehl! ;% ielolkeoa vjsvj{{ehl! =%}`j Z[ e{ {}eaa }`j {oij `oyjl fhlmbovdj},

    K`ve{ Vzsdju! Fold hi ]hduh"Be}{zfe{`e> Jp}jlmjm sjvehm hi ahw vo}j{ }eaa bem"63?; e{

    nz{} ol jbs}u svhbe{j, Fvhdjl svhbe{j{ ovjl'} oawou{ o fom }`elg, Ijm shaeku e{ {}eaakhlme}ehloa hl }`j jkhlhbu, Souvhaa nhf{ {}ov} vzllelg 633D$ olm Ijm weaa {}ov} }`eldelg vo}j`edj{, ]`ju vj{shlmjm }h }`j [)S:33 mvhsselg ?5* ivhb }`j ujov'{ `eg`, ]`jev ok}ehl wo{

    svzmjl}! fz} hlkj }`j kve{e{ so{{j{! }`j jkhlhbu weaa sekd zs olm }`j Ijm weaa oa}jv e}{svhbe{j,

    Vhf Bhvgol! Izakvzb [jkzve}ej{> E ob }vhzfajm fu }`j Ijm sajmgj }h djjs vo}j{ ahw ihv}wh ujov{, ]`j ve{d hi eliao}ehl hyjv }`o} sjvehm e{ ahw fz} }`j khbbe}}jj {`hzam vj}oel oaa}hha{ }h mjoa we}` w`o}jyjv }`j jkhlhbu }`vhw{ hzv wou, Hfyehz{au }`j }`vjj me{{jl}elgghyjvlhv{ `om }vhzfaj we}` }`j sajmgj o{ wjaa,

    Bedj Mjzdjv! Vz{{jaa Elyj{}bjl}{> e% ]`j Ijm vzl{ }`j ve{d hi ahhdelg aedj }`j Fold hiNosol kevko ?550"633? el `hamelg }`j {`hv}"}jvb el}jvj{} vo}j ljov ~jvh w`eaj lh} hiijvelg

    _zol}e}o}eyj Jo{elg }h {}oyj hii {}oglo}ehl olm sh{{efaj mjiao}ehl, Ahhd ihv }`j Ijm }h ele}eo}j

    _J; ei }`j ?3"ujov ]vjo{zvu uejam aelgjv{ fjahw 6,6: sjvkjl}! w`ek` e{ o {egl hi Nosol me{jo{j,

    ee% ]`j Ijm{ svjyehz{ saol wo{ }h kaoeb }`o} of{jl} izv}`jv _J fu `hamelg so} hl }`j

    {`hv} vo}j el o gvomzoaau ebsvhyelg jkhlhbu! shaeku wo{ fjkhbelg bhvj okkhbbhmo}eyj hyjv}ebj, We}` o kzvvjl} jkhlhbek hz}ahhd }`o} mhj{ lh} {jj bzk` ebsvhyjbjl} el }`j jkhlhbu

    el }`j ljov }jvb! }`j Ijm mjkemjm }h svhbe{j }`o} e} whzam {}olm so} o{ }`j jkhlhbugvomzoaau ebsvhyjm el }`j iz}zvj (}`vhzg` bem"63?;%, ]`e{ svhbe{j hi bhvj okkhbbhmo}eyj

    shaeku el }`j iz}zvj khzam `jas gjljvo}j gvjo}jv khliemjlkj }hmou,

    eee% Hlj khzam {jj Fjvloldj'{ weaaelglj{{ }h sz{` o {}o}jbjl} el }`j iokj hi }`vjj me{{jl}{ o{

    o {egl hi `e{ o{{jv}eyjlj{{, Hl }`j h}`jv `olm! we}` }wh yokolkej{ hl }`j Ijmjvoa Vj{jvyjFhovm! }`j vjgehloa fold svj{emjl}{ oabh{} `om yj}h shwjv }`e{ wjjd, Lhvboaau }`jvj ovj

  • 8/6/2019 CNBC Fed Survey - August 11, 2011

    14/14

    KLFK{ Ijm [zvyju Ozgz{} ??! 63??

    Sogj ?= hi ?=

    IJM [ZVYJUOzgz{} ??! 63??

    }wjayj yh}j{! we}` ieyj khbelg ivhb vjgehloa fold svj{emjl}{ olm hlau ihzv sh{{efaj me{{jl}{!khzl}elg }`j Ljw Uhvd Ijm svj{emjl} o{ ol oabh{}"{zvj lhl"me{{jl}jv, We}` hlau }jl yh}j{

    }hmou ieyj ivhb ghyjvlhv{ olm ieyj ivhb vjgehloa svj{emjl}{ }`j yh}j khzam `oyj fjjl 9"

    = ei K`ovaj{ Jyol{ hi K`ekogh `om me{{jl}jm, Ei }`j vhaa koaa `om ghlj }`o} wou! Fjl Fjvloldjwhzam `oyj fjjl ihvkjm }h we}`mvow }`j 63?; mo}j ivhb }`j {}o}jbjl}, O 9"= yh}j whzam`oyj kvjo}jm o kve{e{ hi khliemjlkj ei e} wjvj bomj hiiekeoa! {h }`j 63?; aolgzogj whzam `oyj

    fjjl jpke{jm }h gj} o gvjo}jv bonhve}u fj`elm }`j {}o}jbjl}, Ei }`jvj wjvj lh yokolkej{! ol0"= yh}j whzam `oyj fjjl okkjs}ofaj! {h }`ju ajoyj Fjvloldj we}` aj{{ vhhb }h boljzyjv,

    [zfhm` Dzbov! [zfhm` Dzbov ) O{{hkeo}j{> Bovdj}{ ovj omnz{}elg }h ve{dejv whvam hibzmmaj oahlg (lje}`jv zlij}}jvjm gvhw}` lh} mhzfaj mes% }`ol bolu o{{zbjm, Ve{d svjbezb{

    fjelg vj"j{}ofae{`jm yeo yegeaol}j vh}o}ehl aedjau whvamwemj! lh} nz{} Jzvhsj olm aedjau }h

    elkazmj jyjl Nosol, ]h koab mhwl yhao}eae}u! khl{jl{z{ jovlelg{ kz}{ ljjmjm o{ osjlza}ebo}j fjihvj kol {ou bovdj}{ `oyj fh}}hbjm,

    @zg` Nh`l{hl! @zg` Nh`l{hl Omye{hv{> ]`j Z,[, jkhlhbu `o{ {ahwjm4 }`j IjmjvoaVj{jvyj kol mh ae}}aj bhvj ({`hv}"}jvb olm ahlgjv"}jvb el}jvj{} vo}j{ ovj oavjomu ahw%4 }`jIjmjvoa ghyjvlbjl} mhj{ lh} ossvjkeo}j }`j svhfajb olm e{ zlweaaelg }h ele}eo}j o ?5;3{ ajyjajbsahubjl} svhgvob4 }`j mulobek{ `oyj {`ei}jm }h khl}vok}ehl mulobek{ ivhb jpsol{ehl

    mulobek{4 hlau &{eayjv aelelg& e{ bovdj} {hbjw`o} zlmjvyoazjm (geyjl o{{zbs}ehl{% olmwemj{svjom sj{{ebe{b (o ghhm khbfelo}ehl,%

    Fovvu Dloss! Fovkaou{ SAK> E whzam mjielj {}ebzaz{ o{ }op vjihvb! el }`j ljh"Djulj{eol

    {jl{j bu ol{wjv whzam fj aj{{ ioyhvofaj

    Nhja Lovhii! Lovhii Jkhlhbek Omye{hv{> [h bzk` ihv jiiekejl} bovdj}{, Mem wj vjoaau

    dlhw olu}`elg bhvj hl Bhlmou bhvlelg }`ol wj mem hl Ivemou bhvlelg8 O{ ihv }`j Ijm!w`jl E ogvjj we}` K`ovaj{ Sah{{jv uhz dlhw }`j Ijm e{ hz} hi khl}vha,

    Djyel Gemme{! Bhvgol Djjgol ) Kh,> ]`j Z,[, jkhlhbu'{ ofeae}u }h &}zvl& qzekdau aej{kah{jau }h }`j kaove}u hi shaeku el Wo{`elg}hl, J{sjkeoaau o{ e} kjl}jv{ ovhzlm }opj{ olm `joa}`kovj kh{}{ ihv {boaa fz{elj{{,

    ]hb Shvkjaae! VFK> We}` vjgovm }h }`j qzj{}ehl hl w`j}`jv }`jvj weaa fj olh}`jv Ijm _Jsvhgvob el }`j ljp} ujov! }`j ol{wjv{ uhz svhyemjm ovj }hh faokd olm w`e}j, Ivhb w`jvj wj{}olm lhw! E mhl} fjaejyj _J; e{ }`j ol{wjv, _J6 wo{ `ovmau o vhz{elg {zkkj{{, Fz} w`eaj e

    ol{wjvjm Lh! }`jvj e{ lh mhzf} }`o} hyjv }`j ao{} wjjd }`j hmm{ hi {jjelg olh}`jv vhzlm hi

    o{{j} szvk`o{j{ `o{ ve{jl {egleiekol}au, ]`e{ mhj{l} bjol wj }`eld e} weaa `oyj olu bhvj{zkkj{{ }`ol _J6, W`o} }`e{ {ebsau vjiajk}{ e{ o Ijm we}` ijw vjboelelg hs}ehl{,

    Moyem Dh}hd! Kzbfjvaolm Omye{hv{> Shae}ekoa bhvhl{ el Wo{`elg}hl ovj sz}}elg }`jevkovjjv{ o`jom hi }`j lo}ehl'{ el}jvj{}, E} e{ }ebj }h }`vhw }`jb hz}! Mjbhkvo}{ olm

    Vjszfaekol{,


Recommended