Posted on 10/21/2009 6:17:00 PM PDT by Son House
WAL-MART DROPS, eBAY FALLS LATE
Wal-Mart Stores shares lost ground, ending down 2.1 per cent at $US50.63, after the world's largest retailer said it would slash prices as it readies for what is likely to be a tough holiday shopping season. The S&P consumer discretionaries index declined 1.5 per cent.
After the bell, eBay Inc, the global e-commerce site, forecast fourth-quarter profit and revenue at the low end of analysts' estimates, quashing investors' hopes for a substantial turnaround at its main marketplaces division during the crucial holiday season.
In extended-hours trading, shares of eBay fell 5 per cent to $US23.75.
In the regular session, biotechnology company Genzyme Corp was the Nasdaq's top drag after it posted lower-than-expected quarterly earnings and cut its 2009 outlook. The stock fell 6.2 per cent to $US51.43.
(Excerpt) Read more at watoday.com.au ...
Greater fiscal responsibility
Limiting what could be a worse economic out come
Persuade people things are getting better
Absolutely horrendous long term fiscal out look
Modest increase in the deficit targeted very strongly on Job creation
Mindful of long run deficit problem
Long run commitment to greater fiscal responsibility while still trying to alleviate the Jobs Problem
Well all that Government spending will increase the GDP with no Jobs growth. Binder was very easy on them, he thanked them for showing up.
They had no option, the fantasy economics aren't working, time for Congress to grow up and divorce the White House plan, Congress can override a Presidential veto and pass a bill that actually increases the GDP
When was the “pay cut” announced? This seems to me a better candidate for a selling trigger.
Hope you all see that video,
Pelosi Shuns Conservatives in Economics Forum
http://www.newsmax.com/insidecover/pelosi_stimulus_economics/2009/10/19/273920.html
But the one token economist of the “right” known to be coming to Pelosi’s event is Mark Zandi of Moody’s, who served as an economic adviser to John McCain’s presidential campaign.
If all that’s not flabbergasting enough for someone touted by Democrats as a Republican economic adviser, consider the fact that Zandi gave $1,000 to the campaign fund of Pennsylvanian Sen. Arlen Specter – a donation recorded as taking place on May 18th of this year, less than one month after Specter switched parties from Republican to Democrat.
Not sure, I thought it was to be tomorrow
Well, it was a red banner headline on Drudge this afternoon! ... around the time the market tanked.
PELOSI, HOUSE DEMOCRATS TO HOST ECONOMIC FORUM ON WEDNESDAY
http://pr-au.com/index.php?option=com_content&task=view&id=92435&Itemid=34
“Our top economic priority as a nation is to get Americans back to work,” Pelosi said. “But we must take further action on behalf of millions of Americans who are out of work or at risk of losing their jobs, their savings, and their homes.”
^
ECONOMIC FORUM of Panic, Pelosi promised all those Jobs from their 2009: American Recovery and Reinvestment Act
http://www.speaker.gov/newsroom/legislation?id=0273
This legislation will jumpstart our economy, create and save 3.5 million jobs,
^
Failed!
Don’t miss the video at link, it isn’t in state run media, [(Former)Fed: US Economy ‘Pretty Bad’ Video]
http://www.newsmax.com/insidecover/pelosi_stimulus_economics/2009/10/19/273920.html
Of the other economists presented by Pelosi as being an ideologically diverse group, all are friendly to liberal economic policies. Alan Blinder of Princeton, for instance, was made Federal Reserve Board vice chairman by President Clinton after serving on his Council of Economic Advisers, and Blinder advised both the Al Gore and John Kerry presidential campaigns.
^
No wonder he was so polite
oops, I forgot to say thanks for the post.....so thanks.
There will NO real sustained economic recovery as long as the threat of increased business costs exist. Cap/Trade, Healthcare, corporate tax increases. And with these unprecedented deficits, the dollar will stay weak for years.
Folks it is scary what this administration and congress is doing to the economy. W Bush wasn’t the greatest president we have ever had. But his post 9-11 tax cuts prevented a severe recession, and created millions of jobs. Stock market hit historic highs.
Things started downhill once the democrats took over congress in early 2007. Obama has inherited a moderate recession and is turning it into a long term (decades) deep recession and could become our next depression.
If healthcare passes, the stock market will drop 1000-1500 points in the first week.
Scary folks. Real scary.
Don’t know what question to answer first, but I assume it’s mostly hypothetical and you already know what the answer is.
I am sorry to hear you are out of work, but that’s exactly why I am trying to present the facts of the economy. It’s obvious Congressional leadership has failed miserably and we need to set the direction for them, so Americans have Job opportunities they are being robbed of
For someone who is unemployed I am a lot better off than most. I worked my tail off my whole life and lived within my means so I can pay the bills. Yes my lifestyle has changed drastically, but it could be worse. Do I want a job...YES and any job will do! Are there any out there? A few, but lots of competition. Congress can GO TO HELL! They have destroyed this country and it is going to take a long time for it to get better and it will never be as good as it was, IMHO.
If you think about it, ping me when you do a post. Thanks and good night.
Don’t miss the video at linked article, it isn’t in state run media, [(Former)Fed: US Economy ‘Pretty Bad’ Video], he just came from a closed door meeting with Congress
Currently sitting all in cash.
And copper-jackets.
;-)
More lies being posted. The markets are NOT going to drop. The government is not going to ALLOW them to drop appreciably. Sure, we may see hyperinflation, but the overall markets are NOT, I repeat NOT, going to be allowed to go down signficantly. Write it down — not going to happen. You can post it all you want to until you are BLUE in the face and it is not going to happen.
Thanks for the ping did you see this?
http://www.economicpolicyjournal.com/2009/10/is-fed-governor-hinting-at-stock-market.html
Thu Oct 22, 2009 12:46am EDT
By Elaine Lies
TOKYO, Oct 22 (Reuters) - Japan's Nikkei average fell 1.6 percent on Thursday, with stocks hit across the board after U.S. financial shares fell after a warning from a banking analyst and as wariness grew ahead of Japanese earnings. Japan Airlines Corp (9205.T) snapped this week's rising streak to drop 4 percent after a newspaper reported that the struggling carrier's net loss may balloon to as much as about $5.5 billion for the year ending in March.
"There's been a tendency this earnings period for U.S. shares to fall even if their results are fairly positive, and investors are worried the same thing may happen here," said Takashi Ushio, head of the investment strategy division at Marusan Securities. "Plus given worries about a stronger yen, some investors wonder if the second half might not be as good as this one. They want to sell while things are still good."
The benchmark Nikkei .N225 lost 165.01 points to 10,168.38, extending the morning's losses, while the broader Topix fell 1.7 percent to 898.32.
[snip]
Atul Prakash and Jon Hopkins
Thu Oct 22, 2009 1:07am EDT
LONDON, Oct 22 (Reuters) - European shares are set to open sharply lower on Thursday, tracking a sell-off in the U.S. and Asian equity markets, as a bigger-than-expected loss from Boeing (BA.N) hurt sentiment.
Financial spreadbetters expected Britain's FTSE 100 .FTSE to open down 58 to 66 points, or as much as 1.3 percent lower, Germany's DAX .GDAXI to open 70 to 78 points lower, or as much as 1.3 percent, and France's CAC 40 .FCHI to fall 50 to 57 points, or as much as 1.5 percent down.
The FTSEurofirst 300 .FTEU3 index of top European shares rose 0.5 percent to close at 1,025.88 points on Wednesday, recouping almost all the loss from the previous session, and taking it near to its highest close since Oct. 3, 2008. (Reporting by Atul Prakash and Jon Hopkins)
[snip]
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