Friday, July 29, 2011

President Obama on the Status of Debt Ceiling Negotiations- JULY-29-2011


Investors pulling money out
as deadline nears
July-29-2011--Growing nervous as a possible government default draws ever closer, more and more ordinary investors are calling their brokers and moving their money out of stocks and mutual funds for fear of a plunge in the market next week.
The stock market declined for a sixth straight day Friday as financial advisers fielded a new round of calls and emails from clients wondering whether to get out or sit tight.
Investors pulled about $32 billion out of money-market mutual funds for the week that ended Wednesday,
That is just a tiny fraction of the $2.6 trillion invested in such funds.
But the exodus appeared to be accelerating at week's end as Tuesday's deadline for reaching an agreement on Capitol Hill drew near.
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'Growth Recession' Latest Bad News for Faltering US Economy -July-29-2011--


'Growth Recession'
Latest Bad News for Faltering US Economy
July-29-2011--“Growth recession” is a term that means the economy actually is growing but not at a fast enough pace to head off rising unemployment, which is at 9.2 percent and trending higher.
In addition to all the other ignominy heaped upon the US economy comes the latest insult Friday—confirmation of a
“growth recession” that foretells a long, ugly road ahead.
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