POSTED: Thursday, August 4, 2011 - 6:46pm
UPDATED: Wednesday, August 10, 2011 - 11:34pm
tyler — The Drudge Report said it all this afternoon with a big red headline that said "It's ugly"
Stocks accelerated their sell off ahead of the close Thursday with all three major averages falling into negative territory for the year as investors were rattled over an intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report.
Isn't this what the debt ceiling debate was all about.
They said we have to pass this thing as soon as possible so we can stabilize the market.
If we don't, the market will have a huge sell off and we take this.
Well, Congress agreed. And look what's happening. Maybe it's finally setting in.
We are in trouble. With new unemployment numbers coming out Friday, everyone is jittery.
I hope the number are better than 9.2% unemployment. But, experts are bracing for worse.
This is the worst nine day slump since 2009.
Other reports say U.S. debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, treasury figures showed Wednesday.
I think America is getting that feeling that you get when you realize you've spent too much money and now its time to eat at home.
That's my point of view, what's yours?
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