Or will the PPT save the day?
Posted on 07/01/2010 3:46:24 AM PDT by Mad Dawgg
NEW YORK (Reuters) - Stock index futures pointed to a lower open for Wall Street on Thursday, with futures for the Dow Jones down 0.2 percent, for the S&P 500 down 0.3 percent and for the Nasdaq down 0.4 percent by 0906 GMT.
* Jitters over the global economy recovery were fueled by data showing the pace of Chinese manufacturing growth slowed in June as the government took steps to cool the property market and curb bank lending.
* Japan's Nikkei average fell 2 percent, while European shares were down 1.5 percent in morning trade, sliding below a key support level and retreating for the seventh time in eight sessions, hit by the tepid Chinese macro data...
...Investors awaited U.S. weekly jobless claims, due at 1230 GMT, U.S. pending home sales for May, due at 1400 GMT, as well as the Institute for Supply Management's June manufacturing index, due at 1400 GMT. Economists in a Reuters survey expected a reading of 59.0 versus 59.7 in May. U.S. auto sales figures for June were also due on Thursday.
(Excerpt) Read more at finance.yahoo.com ...
Or will the PPT save the day?
“Recovery Summer”.
Why the hell does the timing work out so perfectly for these leftist aholes?
Reps will take at least one house in November. Hopefully, they’ll put an end to this communist spending.
But we are already on the cusp of a depression that is going to make the 1930’s look like the Roarin’ 20’s and it cannot be averted.
So the leftist aholes will be able to point back in two years (2012) and say, “See, we were all busy recoverin’ and stuff, then our friends, the other party, comes in an ruins everything” (yeah, that’s Obammie the Commie speaking).
You say a depression can’t be averted? I call BS. If you cut spending to sustainable levels and make radical positive change money will flood back into the system from around the world. Right now everything is depressed because there is no rational reason to expect any positive change.
2010 is critical. So is 2012. That period of split government is going to be interesting. If the Pubs don’t have big enough cojones to FORCE the right things to be done (by simply not funding the wrong things) then we will be in trouble.
Well, you need to study the stats.
Even if we cut all unnecessary spending and the military by half, it would only make a fraction of a dent in being able to pay back what we owe.
It cannot be averted because we have borrowed too much, cannot produce our way out of that debt, and can no longer borrow our way out of that debt.
We COULD have avoided agony if we’d done what you said a few years ago. We would still have had 10 years of pain, but not agony.
It’s too late now. The agony cannot be averted.
That has been the plan for decades.
It can turn just as fast as these aholes can kill it, even faster, if someone would just do the right thing. Obama is the cause of the fall and until that 46% that still think he’s so good see it we’re in for a rough ride..
http://gretawire.blogs.foxnews.com/are-you-paying-attention-to-this/
Early word on jobs report - in sum “it s_cks”
Partly due to obama’s temp census jobs fading away - plus NO new private sector jobs to speak of....
Some economists estimate something like US$15 TRILLION in American-owned liquid assets are outside the US financial system as an income tax avoidance measure. Change our tax laws so it encourages Americans to keep their savings and capital investments in the USA (e.g., Forbes' flat tax plan or FairTax) and our economy will come roaring back in a matter of months.
The fudge factor in your pessimistic response is in defining what “unnecessary” spending is. You say it’s impossible to solve our budget problem even if we cut all “unnecessary” spending. If you define that too narrowly as the go-along get-along politicians have defined it in the last decades . . . yes . . . impossible. We need a much more radical approach where people actually gore the sacred cows (not some of the sacred cows, but all of them) so that we can solve this problem. Reagan just stopped the growth for a few years, he didn’t even reverse it, and it gave the markets and people so much energy we boomed economically.
We need a conservative President and Congress who ignore academia and media for a couple years, make the big changes, show that the changes work, and save this country.
Remember the demographics are changing and the nation is simply a reflection of who lives here. It is not a coincidence that America is starting to display some characteristics of a third world country.
Lets everyone tell Obozo the Crap Clown Thanks for making everyone equal - Miserable. What do we expect from a pissant who has to lower his pants evrytime he speaks because he is all ass.
Or if they overpush things, we'll get backlash the other way again. It's a delicate balance to set things right and demonstrate what works and what doesn't.
If nobody takes the time to educate the disengaged public about the reason for conservative positions, they will just get the MSM line, and we'll be looking at 1994 again--conservatives winning, only to throw it away in the next few years because they didn't understand why they were being put in place.
Forget the backlash, do the right thing and then sell it constantly and more importantly yank away the funding from the enemies propaganda machine. Drop the funding and laws supporting lib schools, lib radio, lib TV, lib interest groups, lib science groups, lib unions . . . etc. (you get the idea). Republicans should actually play politics to win BIG rather than just sitting on their fat asses rather than risking getting them kicked — so they can occassionally win small. Small wins are just a delay of tyranny. The Dems played to win with this Congress and President — and have shown themselves incompetent and their policies destructive. If there are enough Conservatives among the Pubs, and they play to win, the world will be shocked at how quickly things turn around for the better.
That is something that mustn't just follow the action. The selling comes first--it's difficult to break the initial impression if things are pushed on the public against their wishes with the hopes that you'll convert them later.
That was a big mistake of 1994, which was repeated after 2004...and the resulting backlash was worse than the gains that were made.
I disagree. Very little that was real could be done in 1994 because Clinton was President. You cannot build a consensus to do things that will take money from vocal interest groups . . . you just have to do it. Over and over, as fast as possible so the yelps are drowned out in the news by the next yelping group, and then the economy comes back and your base is happy. Remember that the Republican base is not on the take . . . they are the ones being taken from.
My impression of your view is that you’d be at the table with Reagan telling him to hold off on Star Wars until more of the press was on his side . . .
It was a false boom, caused by pulling debt and demand forward. It wasn’t his fault, but the Dim congress.
We have hit the wall in our ability to do that.
And it’s not pessimism. It is the objective reality of mathematics.
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