Posted on 10/15/2009 11:16:44 AM PDT by h20skier66
Now that the credit/bank crisis is two years old, and the Dow around 10,000, gold is at highs over $1000. One would think that with $3 trillion of direct US Fed bailout cash, plus $17 trillion of various guarantees and singlehanded support for the US mortgage/financial markets would do something.
After the Cash for Clunkers' stimulus, and all the other money thrown into the banking system since the collapse of Lehman a year ago, one would expect some kind of economic rebound.
The financial pundits are all making a big deal out of the Dow rally to 10,000. Will it stick? Or will it falter, if the economic data in the US and Western economies again sputter?
Scary data
Or try this: Sumitomo Bank just stated the USD will fall to 50 yen in 2010, due to an expected double dip recession, and lose its status as the world reserve currency. They stated that central banks cannot stay ahead of a falling USD, hence their prediction.
(Excerpt) Read more at commoditynewscenter.com ...
Wrong. Readings above 50 indicate growth. 34.6 vs. 18.9 merely means manufacturing is shrinking at a slower pace.
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