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  1. #1 Stocks Rise on Bets of More Stimulus 
    PORCUS MAXIMUS Rockntractor's Avatar
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    By Michael P. Regan and Rita Nazareth - Aug 3, 2011 5:30 PM CT
    U.S. stocks rose, reversing earlier losses and preventing the longest Dow Jones Industrial Average slump since 1978, as investors speculated the Federal Reserve will start another stimulus program. Treasuries 10-year notes erased gains, and the dollar slid.

    The Dow halted an eight-day drop, gaining 29.82 points to 11,896.44 at 4 p.m. in New York. The S&P 500 rose 0.5 percent, rebounding after yesterday’s plunge drove it to the cheapest price-earnings ratio in more than a year. Ten-year Treasury yields rose one basis point to 2.62 percent. Oil slid to a five- week low following government data showing an increase in stockpiles. The franc fell from a record versus the euro and dollar after Switzerland reduced interest rates.

    Speculation the Fed will embark on a third round of asset purchases to stem off a recession grew after the Wall Street Journal said three former central bank officials support the approach. More than $2.3 trillion had been erased from the value of global equities since July 22, and Treasury yields set 2011 lows, amid concern the economic recovery is faltering. Service industries grew in July at the slowest pace since February 2010, the Institute for Supply Management said today.

    “Every time we see economic weakness, there will be discussion about more economic stimulus,” Richard Sichel, who oversees $1.6 billion as chief investment officer at Philadelphia Trust Co., said in telephone interview. “That could be the case given the fairly weak economic figures we’ve had. In addition, the market has given back a lot recently and people started to look at some bargains.”
    Read More>http://www.bloomberg.com/news/2011-0...o-weakens.html
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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  2. #2  
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    QE 3 is on the way. Helicopter Ben will just print more money. Gold and silver will just keep going up and up. However, I see stocks, jobs and housing going the other direction.
    Last edited by lacarnut; 08-04-2011 at 02:22 AM.
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  3. #3  
    PORCUS MAXIMUS Rockntractor's Avatar
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    The world has gone mad, it's a house of cards.
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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  4. #4  
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    Quote Originally Posted by Rockntractor View Post
    The world has gone mad, it's a house of cards.
    I agree. This is crazy. And I remember back during 'dot com' how the Nasdaq was at 5000 and everyone would pile on every time it dropped a little.

    The worst part of this whole thing is what is happening to everyone's 401k and mutual funds. As Elmer Fudd would say, "Be vewwy caweful".
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  5. #5  
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    So the only tool left is the monetary policy "red button"? Time for Ben to go full force and inflate our way out of this problem?
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    Quote Originally Posted by Nubs View Post
    So the only tool left is the monetary policy "red button"? Time for Ben to go full force and inflate our way out of this problem?
    You're on to something. Inflation is one of the few hopes left. And it'll really hurt some people. I remember inflation during the 70's; a quote for building materials was only good for a couple of week, max.

    BTW...I had vinyl siding installed on a house last month. They guy told me that the next one would cost more; he got a 17% price increase from his supplier.:(
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  7. #7  
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    The Dow is down over 200 now. Obama must be speaking again. You can count on a price drop every time he opens his mouth.

    We need new leadership now. The Brits have something with that vote of confidence. Wish he'd put his fund raising extortion skills to actually helping the economy.
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  8. #8  
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    Stimulus = government confiscating private funds and bailing out union pensions, union automakers and government bureaucracies.
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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    The Dow is down 335 at 1pm today. Obummer is in campaign mode telling the fools that the economy is getting better. The market is a crap shoot right now. Gold was up this am and now it is down. Silver and oil is taking a beating also. However, if I had to bet the farm on one asset or stock, it would be gold.
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  10. #10  
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    I have been in cash and gold for some time in anticipation of a stock market crash which seems almost inevitable to me given the fundamentals. It looks like the downward spiral is underway since the debt ceiling dog and pony show didn't fool anyone with a shred of sense. Things are going to get a whole lot worse before they get better - if they ever do. Obama is an absolute calamity for this nation.
    "The efforts of the government alone will never be enough. In the end the people must choose and the people must help themselves" ~ JFK; from his famous inauguration speech (What Democrats sounded like before today's neo-Liberals hijacked that party)
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