Another Recession?

6 Aug


A World of Worries: Markets Fall, New Recession Feared

So much for that summer vacation.

Concerns about global economic growth, the sovereign debt crisis in Europe and the budget fracas in the U.S. all coalesced last week into a fierce storm that drove the Dow Jones Industrial Average to its biggest loss in nearly two years.

On Thursday, the Dow skidded 512.76, or 4.3%, to 11383.68, wiping out the year’s gains. The drop punctuated two weeks of terrible trading, with the Dow falling nearly 11% from its April 29 high, placing the blue-chip measure firmly in “correction” territory and threatening a new bear market — a 20% drop.

[SJ_07LED]

Source: http://on.wsj.com/odqN7A

BofA liabilities bigger than expected

Bank of Americatold investors that its liabilities for mortgage repurchases fromFannie Maeand Freddie Maccould be worse than expected as the two companies become “more rigid” in dealing with the bank. 

Fannie and Freddie are sending back to the bank many more faulty loans than BofA had anticipated.


S&P Downgrades U.S. Credit Rating – How Will It Affect Your Stocks, Bonds?

Commentary: I personally beleive, from what I have read on the news and trends, that we are definetely going into anther and depression and it is going to be bad. I anticipate the stocks to plummet on Monday. 
I hope it is so, America needs something to amp it revolutionary sentiment. This country has been ‘asleep’ to long. 

 

Leon Panetta Hypes al Qaeda to Ward Off More Defense Cuts

Speaking at Offutt Air Base, Nebraska — Secretary of Defense Leon Panetta has disconcertingly started his tenure fear-mongering about al Qaeda as a justification not to go beyond the President’s proposed $400 billion cuts to the Defense Department over ten years.  

Commentary: Just today we learned about the attack to navy seals wich reulteds in casualites. The only people who are getting anything out of the war are the coporations supplying the war supplies, vehicles, arsenal.  If this was is about deffending from terrorist attacks, which it is not, then we should bring soldiers home to defend the nations instead of having them killed and waising our money overseas.This wars need to end, America is killing a lot of inoccent civilians. 


In a resources based economy, money (businesss), politics would be obselete. Everyone in the world would have access to food, water, housing, education, cloth, basic nessecities.I ADVOCATE THE ADAPTATION OF A RESOURCE BASED ECONOMY AND IMPLEMENTATION OF THE SCIENTIFIC METHOD FOR SOCIAL MEANS.

A resources based economy is not a socialist state.

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