The Economy Keeps Rolling

Discussion in 'Economy' started by red states rule, Jan 31, 2007.

  1. red states rule
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    red states rule Senior Member

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    Well the bad news keeps coming for the doom and gloomers and if this is what a bad economy is - I hope it is here for a long time


    Stocks Zoom After Fed Announcement
    Wednesday, January 31, 2007

    NEW YORK — Strong growth. Moderate inflation. And the Federal Reserve's apparent acknowledgement of a stellar economic picture. It all combined to send stocks soaring on Wednesday.

    U.S. stocks climbed Wednesday, driving the Dow to a record close after the Federal Reserve left rates steady and flagged no new concerns about inflation that would have merited higher borrowing costs.

    Based on the latest available data, the Dow Jones industrial average unofficially ended up 98.62 points, or 0.79 percent, at 12,621.93, while the Standard & Poor's 500 Index gained 9.66 points, or 0.68 percent, to finish unofficially at 1,438.48, and the Nasdaq Composite Index advanced 15.34 points, or 0.63 percent, to close unofficially at 2,463.98.

    The Dow closed higher for the seventh month in a row in January, gaining 1.3 percent. The S&P 500 rose for the eighth straight month, adding 1.4 percent in January. The Nasdaq finished January with a 2 percent gain.

    The Fed, which issued its economic assessment as it decided to leave short-term interest rates unchanged at 5.25 percent, said recent indicators "suggested somewhat firmer economic growth" and tentative signs of stabilization in the housing market. Investors also appeared pleased by the central bank's comments that readings on core inflation have "improved modestly" in recent months.

    http://www.foxnews.com/story/0,2933,249059,00.html
     
  2. Annie
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    Annie Diamond Member

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  3. gonegolfin
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    gonegolfin Member

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    Do you really think we have moderate inflation? What do you consider to be moderate inflation?

    Brian (Ron Paul for President)
     
  4. Greg Bernhardt
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    Greg Bernhardt www.physics*****s.com

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    My stocks have done great this past week! Go Nasdaq! :)
     
  5. Darwins Friend
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    Darwins Friend Member

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    Yep, for-closures are up 40% from last year in my county: I’m Loving It!!!:clap2:
     
  6. red states rule
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    red states rule Senior Member

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    One of the leading reasons for forclosures is not because peole cannot make thier P&I payments. It is the ever increasing taxes and insurance.

    I work in the mortgage business and I see the poor folks in high tax states have thier payments go up 300 to 600 a month. The worst states are NJ, NY, and CA (states run by Dems)

    NJ has insane taxes, I have seen yearly taxes over $12,000

    In Fl, homeowner, flood, and wind ins are going up

    Hardly Pres Bush's fault or the fault of the tax cuts

    But some libs will try
     
  7. Greg Bernhardt
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    Greg Bernhardt www.physics*****s.com

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    I live in Milwaukee and our property taxes are insane (at least for the midwest). A $200,000 home will pay near $5000 a year in property taxes :(
     
  8. Annie
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    Annie Diamond Member

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    Higher here! *Voice of experience!*
     
  9. red states rule
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    red states rule Senior Member

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    While I can't do it, when these people call in to bitch at me for the higher taxes, I want to ask them why they keep voting for the Dems who raised them in the first place
     
  10. Annie
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    Annie Diamond Member

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    Really. Got to agree with you here!
     

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