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Romica
U.S. Stocks Extend Drop on Debt-Rating Concern
News Type: Event Fri Aug 5, 2011 4:17 PM UTC
U.S. stocks extended the worst weekly slump since November 2008 as stronger-than-forecast jobs growth was overshadowed by concerns that America may lose its top credit rating and Europe’s debt crisis will spread
U.S. Stocks Plunge in Biggest Retreat Since 2009
News Type: Event Thu Aug 4, 2011 11:46 PM UTC
A global rout in equities drove the Standard & Poor’s 500 Index to its worst slump since February 2009, while two-year Treasury yields plunged to a record low amid concern the economy is weakening
Yes, the markets are sinking. Just like what happened in the 1929 when Hoover slashed spending way too early in the recovery, thereby dragging it out the depression several more years.The overall economy is not like a family budget, despite the simplistic tale that Tea Party Republicans have been selling to a gullible public. Responsible government spending should be counter-cyclical to the the state of the economy, with more spent during downturns. Stepped up spending now to initiate a recovery is what is needed, and entirely appropriate.Under responsible leadership a surplus would have been created for these purposes during better economic times. Of course the Republicans instead spent like drunken sailors for the eight years prior to Obama (two wars, plus Medicare prescription), at the same time lowering taxes, so voters would not feel the pain (yet), and they could get re-elected. Now that the damage is done Republicans are driving spending cuts that will insure maximum pain for the nation, while shamelessly preventing responsible taxation of the wealthiest.Once again the nation suffers while Republicans pursue policies that benefit the few at enormous cost to everyone else.
So much for the geniuses of the Tea Party. Wall Street knows history understands Keynesian macroeconomics; Tea Partiers think the federal budget works like their checkbooks.
Just because Bin Laden is dead doesnt necessarily mean that America is safe. How do we know that someone isnt going to try the same thing that he done? We as a nation need to be on high alert still even though he is dead and not get to comfortable.
For the many Americans who have been fighting and dying the past 10 years, it answers the question, "What are we fighting for?"
If she is seriously considering running for the Presidency of the United States of America, is it not a little *ahem* undignified to place oneself in a reality TV show on cable. I mean, has America really sunk that low to not be able to distinguish between Presidential and Real-a-trastic.
It's Friday 'Happy Hour'....somebody please buy Nancy Pelosi and Joe Biden a few drinks in Georgetown. We need TMC to cover that 'celebration party'. Poor President Obama must be smokng 2 packs a day by now.
