Remodeling Maidiac
Diamond Member
- Banned
- #1
Dow currently down 119
Do you guys think the bill will pass both houses?
Do you guys think the bill will pass both houses?
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16 trillion debt and we're going to cut 1 trillion over the next ten years? YOWSAH! That will solve the problem!
Wall Street isn't impressed by this deal because it didn't do a thing to address the deficit.
Dow currently down 119
Do you guys think the bill will pass both houses?
Dow currently down 119
Do you guys think the bill will pass both houses?
Who cares about Wallstreet?
And I hope it passes, which will please socialists to no end.
Dow currently down 119
Do you guys think the bill will pass both houses?
Who cares about Wallstreet?
And I hope it passes, which will please socialists to no end.
Dow currently down 119
Do you guys think the bill will pass both houses?
Who cares about Wallstreet?
And I hope it passes, which will please socialists to no end.
Socialists/Progressives wont be as pleased as you think. They wanted big Tax Hikes. Even their own Democrats told them "Hell No!!" on that.
Dow currently down 119
Do you guys think the bill will pass both houses?
Who cares about Wallstreet?
And I hope it passes, which will please socialists to no end.
People who care about the economy care about Wall Street.
Socialist, though, really dont.
The economic tea leaves are difficult to read, economists say. For every sign pointing to a slowdown, another indicates a pickup. Recent economic reports have shown weakness in everything from manufacturing to consumer spending. The government recently revised its estimate of gross domestic product growth for the first quarter down to a meager annual rate of 0.4%. In the second quarter, the GDP growth rate was just 1.3%. Other indicators, such as corporate earnings, are at their strongest levels in years.
Thursday's 513-point plunge by the Dow Jones industrial average, its largest decline since late 2008, sparked concerns that the economy is heading off a cliff, since stocks are often seen as an indicator of future growth.Signs of economic weakness, the game of chicken with the U.S. debt ceiling that played out in Washington, D.C., and the spreading debt crisis in Europe have unnerved investors. Standard & Poor's downgrading of the U.S.'s credit rating, announced late Friday, may heighten worries when markets open Monday.
But Friday's employment report, which showed that the economy added a better-than-expected 117,000 jobs in July, helped ease concerns that another recession is around the corner. In response, the Dow posted a mild gain. In keeping with the mixed signals investors are getting, other indexes, such as the Nasdaq composite , declined. Tuesday, the Federal Reserve's policy committee will meet in Washington to determine how to respond to the latest twists and turns in the economy. Few expect the central bank to announce new plans to stimulate growth, but investors will keep a keen eye out for any hints that such plans are under consideration.
There's little question that the odds that the economy is heading toward a contraction are on the rise. John Lonski, chief economist at Moody's Investors Service in New York, put the odds of a recession at 40%, up from just 20% a month ago. His reason: the steep decline in the stock market, which can hurt consumer spending. In the recovery from the 18-month recession that ended in June 2009, rising stock prices have helped make consumers feel better off, even as many saw the prices of their homes decline. Now, home prices remain in a ditch and stocks are taking a beating. "What the U.S. can ill-afford is the decline in equity prices in view of how home prices have continued to fall," says Lonski. "It will reduce household wealth."
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