Posted on 09/06/2011 7:50:35 AM PDT by markomalley
U.S. stocks are sharply lower in early trading. The Dow Jones industrial average dropped more than 260 points. All 30 stocks that make up the Dow average fell.
The losses come after steep declines in European indexes. The Stoxx 600 Europe index fell 4.1 percent on Monday because of concerns that Europe's debt problems could slow growth around the world. The index fell another 1.4 percent Tuesday.
The U.S. economy is also weak. A Tuesday report on the U.S. service sector is expected to show the fourth straight month of declining growth.
It follows a jobs report Friday that that found that no jobs were added to the economy in August. It was the worst reading on the jobs market since September 2010. The report sent the Dow Jones industrial average down 253 points, or 2.2 percent, and wiped out all of its gains for the week. The Dow is now down nearly 3 percent for the year
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Keynes was so right on this one.
Happily, Apple seems to avoiding the bloodbath.
Doesn’t exactly help to hear that FORD is building a new plant . ..in India ...creating 5,000 jobs . . .in INDIA.
Forget the US. Greener pastures elsewhere, i suppose.
When the market drops sharply on Friday in response, he’ll blame Republican traders. “
Most of them gave to his campaign.
Obama will blame the coming market crash on GOP resistance to another huge stimulus to create “jobs”
He will blame the republicans who resist further deficit spending, for putting rich corporate executives and hedge fund traders ahead of the "working people", for putting their party ahead of jobs for the middle class and for putting special interests and big oil ahead of the country
He will try to make it "unpatriotic" to resist even more of HIS (failed) ideology of trillion dollar slush fund spending on special interests
He will blame the Tea Party for holding “hostage” those “moderates” in the GOP who would otherwise be willing to “compromise”
I am not a speechwriter for TOTUS but I did stay in a Holiday Inn Express one time
Doesn't look like "change" is doing much hiring either.
They’ve got the public brainwashed to believe the current systemic “banking” and so called “insurance”, should be called “industries”.
Watch for the next round of Bribe for Bailout by the systemic tentacles.
Systemic.
“( - - - I am not a speechwriter for TOTUS but I did stay in a Holiday Inn Express one time - - - )”
I think only Porky Pelosi and Reid-in-the-wind are his speechwriters.
Yeah, the person I was listening to on a podcast yesterday talked about how the european banks had gotten themselves into such a mess by buying up all the PIIGS junk status bonds, and so what does our idiot American banks do? Why they sell the EU banks credit default swaps as insurance to back those junk bonds. You are correct. The idiocy in the global banking "industry" is systemic. When it goes down the tube, it's ALL gonna go down the tube at the same time.
We're not that advanced. Clover honey is readily available. The south has wonderful hills full of fire ants. I'm sure an accommodation can be made.
GE is moving the headquarters of it’s medical imaging division to China. So much for the high tech jobs of the 21st century.
Yeah, I get it. It’s just sad that it’s not here, with so many unemployed.
Sad for America that we are basically Going out of Business as a country.
Time to clean house of all of these “barriers” to good business.
You couldn’t have Obama without Bush. The last three Presidents of the US have proven disastrous.
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