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Obama pushed through a $787 billion emergency stimulus bill after taking office in January, and the White House said at the time it hoped this move would keep unemployment under double-digit levels.
However, the economy has weakened by more than expected and the White House now warns the jobless rate could breach 10 percent in coming months, up from 9.4 percent in May, in the face of the toughest recession in decades.
"We have not broken the back of the recession," Axelrod said. "We are going to have to sail through some very difficult times here. But the question is are we moving in the right direction."
Originally posted by GreenBicMan
bullish on the dollar makes sense (fade the public as i have been saying)
Technical Indicators: As detailed here, Harrison believes S&P 950 is the "most important level of the year" and believes the bulls have a window to make a run at that mark in the next week to 10 days.
Originally posted by RetinoidReceptor
www.marketwatch.com...
Elliot Wave theorists and forecasters which foresaw a bearish downturn beginning in 2000 (they talk about these "cycles" that last for years and are heavily into technical analysis (GBM should be interested).
Basically they are saying a continual rally could insue to DOW 10,000 or a little more, but that deflationary pressures will ultimately overwhelm everything and the markets will eventually crash again.
I've always said that the rally is still going to continue, and I still believe that...Too many skeptics still out there.
They also say they are BULLISH on the dollar.
The good thing about the markets is that there is always a trade despite what happens...deflation or inflation, fear or greed.
[edit on 29-6-2009 by RetinoidReceptor]
Originally posted by GreenBicMan
reply to post by Vitchilo
I caN't see the whole "obama patrol" inspecting your home going over quite well with a few people lol!!
You can damn well bet they would have to pay me a boatload of $$$ to knock on some of your doors and tell you that I am coming inside like it or not hahahaaha
the contractor may have to inspect it beforehand to make sure it is climate safe...but they wouldn't be crazy enough to do that I hope...
But how will homes be compliant if they are not checked by an official? So wouldn't someone have to check it.. or did i miss something?
Originally posted by Hastobemoretolife
reply to post by Vitchilo
Is it just me, or do you think if this bill passes this stuff isn't going to go over so well with people?
I see major chaos happening if this bill passes. The economic damage this will do will be astronomical.