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Originally posted by surrealist
reply to post by hypr2011
It was suggested on CNBC last night that these job cuts may well trigger further job cuts across the financial sector, which may further trigger job cuts elsewhere. The possible outcomes could have a shocking UE printout in the next couple of months.
SAN FRANCISCO (MarketWatch) — U.S. stock markets face a bleak, volatile trading week, as investors brace for more data illustrating subpar economic growth and the low likelihood of another rescue package from the Federal Reserve.
This week’s economic indicators include the Chicago Fed National Activity Index on Monday, and July new home sales on Tuesday. On Wednesday, July durable-goods orders and core capital-goods data are released, along with home-price index data for June. Then on Friday, the Commerce Department will revise its second-quarter GDP data.
Also on Friday, Fed Chairman Ben Bernanke is scheduled to speak in Jackson Hole, Wyo., at an annual conference of central bankers. At the same meeting last year, Bernanke signaled plans for a second round of quantitative easing, or QE2, setting off a months-long rally in stocks.
Originally posted by SeekerofTruth101
As the market collapses totally now, with all indicators flashing alarms in every aspect of the economy, sending shivers of fears... Do comprehend one necessary truth... We humans still have basic needs to be met.
And it will be either the service or the production of meeting such needs that will ensure the continued employment and circulation of money around the world, even as many had hoarded their money. They will still need to pay cash to meet their needs from the hoard, and a gold bar certainly cannot buy an egg. The farmer will have no change for it.
Good luck to all! ;=)