Tag Archives: stock market

Jun 5 2010

Dow Dives 324 on Friday’s jobs report

At first glance, Friday’s jobs report was good news. After losing hundreds of thousands of jobs a year earlier, the U.S. created 431,000 jobs in May its best month of job growth since March 2000. The unemployment rate even fell from 9.9% to 9.7%. However, the markets were spooked by the report because 411,000 of the jobs created were Census jobs that will be going away, meaning the U.S. created a measly 41,000 private-sector jobs. Also, economists had called for much more robust overall growth of 513,000 jobs.

Even the drop in the unemployment rate wasn’t a good sign because people dropped out of the job market due to discouragement, a particularly negative sign at this point of a recovery. All in all, the jobs report failed to live up to the hype and provided the bears with more ammo to hammer away at the beaten-down stock market. It also bolstered forecasts for a so-called jobless recovery. READ MORE AT SOURCE

Obama sure was bragging about Friday’s jobs report but what he wasn’t telling the American people was that most of the jobs created were Census jobs that will be going away and next month will not be good at all in new jobs! This president has lied and mislead the American people from day one as president! Time for a change in the White House and yes in congress! Join a tea party today and lets take back our great Nation!

Mar 30 2009

World Stocks Tumble amid renewed auto, banking fears

Stock market sentiment was hit by a combination of factors on Monday, with automakers under particular pressure after the White House rejected the turnaround plans from General Motors Corp. and Chrysler. The Obama administration also replaced GM’s CEO Rick Wagoner with the company’s chief operating officer Fritz Henderson.

Banking stocks were also sold off heavily after U.S. Treasury Secretary Tim Geithner failed to rule out in a weekend interview the possibility that some of the U.S. banks may need more government funds to get them lending again. A bailout fund for battered banks still has $135 billion left in it, although Geithner said a second batch of money might be needed, despite public frustration with the already allocated money. Read More

Seem that Obama is wanting to design and build cars himself and not leave anything to the American companies! Do you want the government building your autos? The government can not run social Security or medicare so how do you expect it to do on running big auto companies? I see a dictator takeover!

LINKS:

(1) Financial manipulation alert: Did AIG bailout money secretly prop up banks?

(2) US Dollar: A Sinking Ship?