Wednesday, July 13, 2011
Yesterday the Dow dropped down to 12446.88
Supposedly it was due to fears over Moody's dropping Ireland's credit down to 'junk' status, meaning it would need a 2nd bailout (as will Portugal eventually and which Greece is about to get) . The financial media said the drop was additionally due to uncertainly involving Italy and on a broader level, the EU's survival itself, fearing it could possibly plunge the world into a second recession or worse... or so they say...
Today as of 3p, the Dow has risen about 100pts.
Whewww~ Guess that means no more problems, yes?
Oh wait... I know why the market really has risen...
"Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing." -CNBC
~ Get that folks.. its in the works. Only 13 days after QE2 ended
Told you the little investor piggies want to continue sucking on those government teats while verbally ripping the unemployed as 'losers' because they dare to need supposed 'handouts' like unemployment checks to survive. See to them, its you everyday people who are sucking the government dry, instead of finding work on their own. And that ferret Bernanke, whose Only interest is pleasing markets and banks, is more than happy to provide the free money; the funds we really don't have and what this whole BS theater of debt ceiling debate is about.
From the Washington Examiner: "Here are the facts, as reported by MarketWatch and the Bipartisan Policy Center. You do the math:
* The federal government receives approximately $200 billion in revenues each month.
* Interest on the national debt in August will be approximately $29 billion.
* Social Security will cost about $49. 2 billion.
* Medicare and Medicaid will cost about $50 billion.
* Active duty military pay will cost about $2.9 billion.
* Veterans affairs programs will cost about $2.9 billion.
If you've been punching buttons on your calculator, you know that still leaves $39 billion each month."
Posted by Susquehanna at Wednesday, July 13, 2011