The European Stock Markets are about to close in a little more than an hour or so (click here). Those markets are experiencing declines.
The Asian markets are already closed.
It may be that the struggle, austerity and otherwise, made by President Obama and his global peer group may see the loss of all their work to date before this is over.
Commodities are up and specifically over the last 24 hours gold is up. (click here)
This is all due to the indecisiveness of the USA House of Representatives Majority Republican Caucus. It is completely bizarre when one considers they are not even a true majority except for the place where they received their campaign funds in 2010. This "Non-Majoirty" Majority is killing the global markets. The 'money' hasn't gone anywhere, but, the stock prices are fluctuating so much the CEOs and their boards do not know where to go with their future as far as expansion, so there is profound impact on the 'jobs market' due to the inability of the House to find their footing at all.
Because of the outcome of the 2010 elections in the US compliments of Murdoch and the Koch Brothers, the markets are about Bulls, not Bears. One has to know how to read 'the daily bubble' in order to survive this mess.
The only way to stabilize this and see job recovery is for Legislature and President Obama to map out a long term strategy that will not be interrupted by hideous ideology. I like the idea of a 'five year plan' at the very least, but, President Obama tends to like ten years as a mark of success to economic recovery.
The GDP is a direct result of the burgeoning recession brought on my so called 'fiscal conservatives.' They aren't fiscally RESPONSIBLE, just CHEAP. Fiscal Responsibility is more about being a guiding light to an economic recovery and not about undermining it which has been the rant of the Republicans controlled by their pledges. It is hideous and completely unsophisticated approach to economic recovery of a nearly collapsed economy compliments of the last Republican Administration.
The Asian markets are already closed.
It may be that the struggle, austerity and otherwise, made by President Obama and his global peer group may see the loss of all their work to date before this is over.
Commodities are up and specifically over the last 24 hours gold is up. (click here)
This is all due to the indecisiveness of the USA House of Representatives Majority Republican Caucus. It is completely bizarre when one considers they are not even a true majority except for the place where they received their campaign funds in 2010. This "Non-Majoirty" Majority is killing the global markets. The 'money' hasn't gone anywhere, but, the stock prices are fluctuating so much the CEOs and their boards do not know where to go with their future as far as expansion, so there is profound impact on the 'jobs market' due to the inability of the House to find their footing at all.
Because of the outcome of the 2010 elections in the US compliments of Murdoch and the Koch Brothers, the markets are about Bulls, not Bears. One has to know how to read 'the daily bubble' in order to survive this mess.
The only way to stabilize this and see job recovery is for Legislature and President Obama to map out a long term strategy that will not be interrupted by hideous ideology. I like the idea of a 'five year plan' at the very least, but, President Obama tends to like ten years as a mark of success to economic recovery.
The GDP is a direct result of the burgeoning recession brought on my so called 'fiscal conservatives.' They aren't fiscally RESPONSIBLE, just CHEAP. Fiscal Responsibility is more about being a guiding light to an economic recovery and not about undermining it which has been the rant of the Republicans controlled by their pledges. It is hideous and completely unsophisticated approach to economic recovery of a nearly collapsed economy compliments of the last Republican Administration.
U.S. Stocks Fall as GDP Trails Estimates, Debt Concerns Increase (click title to entry - thank you)
July 29, 2011, 10:06 AM EDTBy Nikolaj Gammeltoft
July 29 (Bloomberg) -- U.S. stocks sank, pushing the Standard & Poor’s 500 Index toward its biggest weekly loss in a year, after gross domestic product grew less than estimated in the second quarter, adding to concern the economic rebound is slowing as the government inches closer to default.......Bank of America Corp. lost more than 1.6 percent...If Bank of America is any indication to how the other financial banks are doing that received TARP funds, it isn't going well. In the past month Bank of America sent out 'a form letter' to all its depositors fixing the amount they could borrow against their home equity loans. If that is a foreshadowing the entire 2008 collapse could be revisited again in segmented declines. BOA is probably going to be swallowed up no different than Lehman Brothers. The banks were never stable before they paid back their monies. The final outcomes may be that Morgan will STILL be the last bank standing.The refusal by BOA to prevent any more against home equity loans ( these are loans already established, not new equity loans) directly interprets into a decline of small business expansion, home improvements, medical care payments and bankruptcy prevention. There is a lot going on here with BOA. I just don't know if it is systemic. YET!The other 'ying to the yang' is that it might be a strategy to prevent further foreclosures. Either way, it ain't good news for the economy. It will ripple out into retail sales, etc.
