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Thursday, September 30, 2010

Economy- Strong or Weak?

 (Photo:  Brooklyn Bridge)

Is the Economy Strong...   

Wall Street Wraps Up Best September in 7 Decades, Investors Look Ahead to Q4-  "The Dow Jones industrial average is up 8 percent for the month, making it the best September performance for the index since 1939."- AP

US Economy Better Than You Think-  "Three key data points released Thursday show the economy has been faring better than expected- 1. Initialjobless claim benefits fell more than economists had predicted last week. 2. Second quarter GDP was revised up to 1.7%  from the initial report of 1.6%.  .3. The Chicago Purchasing Managers Index, a regional read on manufacturing grew, when it was expected to fall. "- Yahoo Tech Ticker

OR..  Is the Economy Weak...

Meredith Whitney Says States May Need Federal Bailout In Next 12 Months- "While saying a bailout might not be politically viable, (banking analyst) Whitney joined investor Warren Buffett in raising alarm bells about the potential for widespread defaults in the $2.8 trillion municipal bond market. She said state and local issuers have taken on too much debt and that the gap between public spending and revenue is unsustainable."- Bloomberg

Economy Expanded At 1.7% rate in Second Quarter- "The U.S. economy grew at a 1.7 percent annual rate in the second quarter, marking the start of a slowdown in growth that has concerned the Federal Reserve... The world's largest economy grew 3.7 percent in the first three months of the year and 5 percent at the end of 2009. Economists surveyed this month projected little pickup in growth for the rest of the year as a jobless rate hovering close to 10 percent hobbles consumer spending and housing languishes around record lows" - Washington Post

McDonald's Says It May Drop Health Plan-  "McDonald's Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul"- WSJ

When Foreclosure is a Good Option- "In some counties of the hardest hit markets such as South Florida and California, the foreclosure process can take years while homeowners live in limbo both emotionally and financially"- US News & World Report

10 Cities With the Worst Debt- "With an average debt per person of $26,636, Denver ranks as the most indebted city in America, according to data collected by Experian. (That number excludes mortgages.) The sunny weather and numerous urban walking trails don’t stop residents from racking up an average credit card balance of $6,211."- US News & World Report

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