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Friday, September 24, 2010

Two Americas

This point has been made before here and will continue to be repeated.. there are Two Americas, not one.  There is the America of the top 2% and then there's the bottom 98%

Headlines for Top 2%

"Wall St Rallies- Sees 4th Straight Week of Gains"- Reuters

"Citigroup Gives Payhikes to top 25 Execs in Stock" - AP

"Why Jack Welsh Is Wrong About Obama- Many large companies benefitted -- and continue to -- from policies forged in the crisis by the Bush and Obama administrations."- Yahoo Finance

"Election Bounce Anticipated For US Health Insurer Stocks- Health insurer stocks are poised to rise on Republican gains in November's U.S. congressional election "- CNBC

Headlines for Bottom 98%

"Housing: Stuck & Staying Stuck-  Existing home sales rose 7.6% in August, bouncing off a record low. Separately, jobless claims jumped by 12,000 to 465,000 last week in yet another reminder of labor weakness." - WSJ

"'Consumers Are Paralyzed' Over Tax Doubt- The odds are getting slim that Congress will pass a major tax bill before the November elections—leaving taxpayers and financial advisers unsure of how to plan for the future."- WSJ

"In Europe, A Mood of Austerity & Anxiety"- NY Times   (Ironic that the market went up 200pts today in part on Europe looking supposedly 'strong')

"Blockbuster Seeks Chapter 11 Protection"- Washington Post

"Recession Hurt More Than Half Of Americans, Pew Survey Finds" - Bloomberg

There are two American..  there is the America of Warren Buffett, Donald Trump, Jim Cramer, Suze Orman and other such evil..  And then there's the America you and I live in...

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