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Neal Barton's POV

It's ugly

POV

POSTED: Thursday, August 4, 2011 - 6:46pm

UPDATED: Wednesday, August 10, 2011 - 11:34pm

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.

Uncertainity. Panic.

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?

You can email me at pov@nbc56.com.
 

Comments News Comments

Republicans want the states to be able to file bankruptcy so they can take the pensions away from fire fighters, police officers, Correctional officer no matter how long they have risked their lives to protect us the public. Republicans are real snakes...wanting protection and back stabbing the protectors

The Democrats are the only political party that can claim to pay down the National Debt as they did just after the Civil War and when Clinton was President. You will find no where in any History or Economic Text book where Republicans have paid for anything ONLY SPEND LIKE A KID IN A CANDY STORE.

Republicans are pushing the same old trickle down economic policies that created the "Great Depression" and the crash Of the Stock Market of 1929. That is right HISTORY again, Republicans controlled both houses of Congress and the Oval Office from 1927 to 1929 and it was their policies that caused the Stock market crash just as the Bush and Republican Congress created the current mess.

Make that "to view".........

At least all the Republican contenders for the nomination can be counted on view America as home; unlike the current illegal-alien fraud that now occupies the office of the presidency!

Deportation of Illegal immigrants has increased by 70% under Obama....WONDER WHY BUSH DID NOT HAVE THAT MANY ILLEGALS DEPORTED, WONDER WHY PERRY ALLOWS THEM TO ATTEND COLLEGE IN TEXAS AT IN-STATE TUTITON RATES, WONDER WHY PERRY, CORNYN, HENSERLING AND KBH ARE AGAINST E-VERIFY?

I'd say about Perry the same thing that Lincoln said of Grant when disparaged for his low scores at the West Point and his excessive drinking. “Find out what Grant drinks and send a barrel of it to each of my other generals!” Half of every job created in America since Obama came to office was created in Texas. Let the Leaders of California, Illinois, Michigan who drink the Liberal Libations of Socialist failure continue to underestimate Perry Who is Dumb like a fox. Perry's Texas will prosper.

better check the nlrb for the real facts.

Rick Perry’s college grades would not earn a spot on the fridge (especially that D in economics)

http://blog.chron.com/txpotomac/2011/08/rick-perrys-college-grades-would...

goes to show you top republicans know nothing about economis DunbyDanny

The world’s first Social Security retirement program was put into effect by Chancellor Otto von Bismark in 1889 Germany. In 1933 Hitler came in and offered free healthcare. Then he took away everyone’s guns followed by 30-50 million lives lost in Hitler’s Socialist attempts to impose his brand of Nazi Socialist dominance upon the world. The government became the beast of unquenchable appetite for more power and control over the people and their lives. A year later Chancellor Roosevelt did Us In

I sure am glad our social security is not invested in the stock market like the Republicans and T-party want. In FACT SS was created because of the 1929 stock market crash which was also caused by a Republican controlled House, Republican Controlled Senate and a Republican President and their economic policies. Just like today.

100% of our annual gross domestic product. Absolutely insane. So why is it we can't ask the Treasury to resign in light of this while we elect a new bunch to run our economy, oh that's right, they are not elected but appointed from a list provided to the president. Who constructs the list you ask; we are not told that but since the federal reserve was formed every Secretary to the Treasury has been Jewish. Tim Geitner is secretary now, not to be confused with Ben Bernanke of the federal reserve

Well I can say thanks to the Strong arm tatics of the Republican T-Party and delaying the debt ceiling from being raised that scared investors around the world.

..but Don, your president said that the financial meltdown would occur if we didn't approve a debt ceiling increase by August 2nd. So he got the 2 Trillion debt increase he wanted and by the date he said was crucial, now what say you? I'm glad you support your president and party so vigorously, it will only make that deer in the headlight look you'll have when you learn your pension plan is broke all the more funny.

Obama was right about the debt ceiling, like he was right about the stimulus package of Democrat Socialist wealth redistribution and imaginary saved jobs would keep our unemployment under 6%.

It is the socialist blind leading the blind who can never create wealth but only redistribute it in a never ending economy of downward emptying spiral. We have reached the level of tax and spend laws of Socialist diminishing return. LET THE AMERICAN EARNERS BE THE SPENDERS for a change.

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