Yesterday's news on the country's GDP for the second quarter was viewed as positive. The economy shrank at a rate of 1%. This exceeded the expectation that the actual number, as opposed to a estimated number, would be 1.5%. Optimism is returning for a day or two.
The U.S. economy appears to be emerging from its longest and deepest recession since the Great Depression of the 1930s.The price of oil is also slightly up so at the moment the stage is set for a morning of gains but, one never knows. An undisclosed piece of data of great importance could emerge and rattle the walls.
"The economy should enjoy something of a rebound over the next couple of quarters, as inventories are restocked and pent-up demand is released..." source
Reuters: Stock futures point to rise on Wall Street
Tiffany & Co is reporting second-quarter numbers, with analysts expecting earnings per share of 0.34 cents, down from 0.63 cents a year earlierThe rich appear to be hording their dough as well...
3 comments:
1% own 60% of everything in America. 1% of the World's pop. owns 90% of the earth's resources. (90% of America's pop. lives pay check to paycheck.) America is going backwards. The goal of a more egalitarian society has been reversed over the last 40 yrs. The Reactionary Right won the Class war they have been waging against the rest of us and they are now trying to consolidate their gains. They own both parties. Only Reactionary and cosmetic ( AKA Obamaism) Change is now possible in America. Fundamental change to the left is impossible. We need a new Democratic revolution. The Senate is the House of LORDS now and it's reactionary Majority stops any significant leftward change. Only change to the right is IMO possible. Don't believe me look at the record of the last 30 yrs. and what has passed the Senate, even under Clinton.
I have to agree with you. Check out the article I posted on Steve Jobs liver transplant.
Someone like Chomsky points out what you say and how it really is. There is the tiniest of differences between parties. The one thing that I believe Obama can at least hold the line on is his appointments to the courts. We could have these over zealous conservatives like Bush appointees or we could have people who are a bit more progressive. All the Democrats can offer is the tiniest of concessions to people, while the Republicans will remove all social spending, turn all wealth over to the elite.
I agree. The problem is that CORPORATIST have the power in both parties The real power has the $$. Any attempts to change the fundamental economic structure leftward will be fiercely resisted. In the other direction it's changed daily by legions of Corp.lobbyists. Whatever, attempts are made @ reform are almost immediately undermined by these people. Obama had to have known this he's not a fool. His problem is unlike back in Clinton's time and before the Dems. now have a very active left wing again. It's well organized and online. Websites like KOS and others keep the troops aware of what's going on in great detail. This has enraged the Corp. DLC wing of the Dems. who in the past ruled the party and ignored the activist wing. Now they do it at their own peril.
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