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no that's just a case of misdirection. the real reason is U.S. stocks and the dollar dropped after China’s central bank reiterated a call for a “super sovereign currency,”.. that kind of talk makes people nervous ya know
Originally posted by Retinoid Receptor
Wait a second...markets are down because people are actually saving. I understand WHY it is, but this just demonstrates that what is good for the markets is usually not good for the common person.
The government checks keeping Candy Czernicki afloat are fast running out. The reason? U.S. states obligated to pay benefits to the swelling ranks of jobless Americans are piling debt onto strained budgets.
Fifteen states have depleted their unemployment insurance funds so far, forcing them to borrow from the U.S. Treasury.
A record 30 of the country's 50 states are expected to have to borrow up to $17 billion by next year, said Rick McHugh of the National Employment Law Project, a nonpartisan advocacy group.
Well I will like to know what sector of the population have that "income jump" because unemployment raises paint a different picture.
Wait a second...markets are down because people are actually saving. I understand WHY it is, but this just demonstrates that what is good for the markets is usually not good for the common person.
CONFIRMED: Jeff Macke Is Finished At CNBC
May. 22, 2009
www.businessinsider.com...
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nymag.com...
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We still don't know how the events transpired, from Tuesday night's bizarre performance to now, but we've confirmed with a source familiar with Jeff Macke's thinking that the Fast Money guest is done at CNBC.
Obviously his many supporters (see: our comments section) will miss his candor, humor and his unconventional perspective.
Our source denied previous reports that there were contract negotiations going on (stressful or otherwise). It was always his intent to leave when his contract expired in the middle of June, and it's possible he will appear on Fast Money at some point before then.
He also emphasized that, while he has yet to see any so-called “green shoots” in the economy, the recovery efforts could take a long time before they have any tangible impact.
"They're doing things, but they take a while to have an effect," Buffett said. "You can't produce a baby in one month by getting nine women pregnant."
Still, even though the stimulus, TARP and other recovery efforts have yet to yield a significant impact on the economy, Buffett said that he is confident the economy will recover in due time.
“Industrial demand is down like we've never seen it for a simple thing like electricity,” he said. “So it hasn't happened yet. It will happen. I want to emphasize that. But it hasn't happened yet.”
We have to do something, vote some politicians that actually think more than 2 years, 4 years, and 6 years ahead.