Posts Tagged ‘meltdown

24
Aug
15

The financial meltdown, in a few easy steps

Specialist Mario Picone, right, watches the numbers as he works on the floor of the New York Stock Exchange, Friday, Aug. 21, 2015. The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China's slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis. (AP Photo/Richard Drew)

Specialist Mario Picone, right, watches the numbers as he works on the floor of the New York Stock Exchange, Friday, Aug. 21, 2015. The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China’s slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis. (AP Photo/Richard Drew)

The financial markets are melting down. Here’s why.

A couple of months ago, the Shanghai bourse began the Mother of all Corrections. Within a few weeks, it had lost 30% of its value.

This first go-round of market mayhem was greeted with pretty much of a yawn in Europe and the US. This was especially so after the government in Beijing stepped in to prop up the markets.

However, that propping up failed to calm the markets. Beijing decided to let the market work, and the sell-off commenced again.

Now, though, there is the added component of a fear of a major Chinese slow-down in its broader economy. To paraphrase that old saw: When China sneezes, the world catches a cold.

The fear of a significant downturn in the Chinese economy is spooking markets all over the world like a bump in the night spooks wild horses. Without knowing exactly what’s coming down the pike out of China, markets are in a panic.

Continue reading ‘The financial meltdown, in a few easy steps’

10
Nov
11

rise and shine (except you, rick perry – stay in bed)

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Jonathan Bernstein (Washington Post): What can you say about a debate in which one candidate had perhaps the worst moment ever in a presidential debate – Rick Perry’s brain freeze about the third of the three government agencies he wants to eliminate – and he didn’t even give the most embarrassing performance?

No, that would be Herman Cain …. after dragging American political rhetoric to a new low, referring to the House Minority Leader and a former speaker as “Princess Nancy,” it’s about time that Cain was called to account for insulting the American people and the political process for the farce that he’s engaging in….

Full post here

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Paul Begala: The only knockout punch in the CNBC debate was the one Rick Perry administered to himself. His tiny Texas Aggie brain froze when he tried to repeat his talking point about the three federal agencies he would close …. I have never seen a more devastating moment of self-destruction. What’s next, Perry endorsing Cain’s 9-9…ummm, what’s the third number?

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Michael Tomasky: Barack Obama is winning the Rust Belt back. The overwhelming repeal in Ohio of Governor John Kasich’s anti-labor bill from last year shows that the GOP has gone way, way too far—too far for Democrats, obviously, but also for independents. It shows the potential for something else, too: the populist message can stick. “Class warfare” can work. It can take hold even with the people who allegedly despise our Kenyan leader the most: the white working class. And if this turns out to be right, then the Washington conventional wisdom will be proven as wrong as it’s been since 1998, when the Cokie Roberts caucus convinced itself that the American people wanted to throw Bill Clinton out of the White House over Monica.

…. If Romney is going to be the Republican standard bearer, is this really the right time for a nominee who’s worth $250 million and is going to be walking around talking about lower taxes on everyone, including the rich, and who presumably pays at the 15 percent rate, since most of his income is from capital gains and not compensation?

Full article here

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Washington Post: Reggie Love, a key member of the Obama entourage, is planning to leave the White House by the end of the year, people close to the administration said.

Love, 30, is a popular, gregarious figure in the White House. A onetime forward for the Duke Blue Devils basketball team, Love started out as a staff assistant in Obama’s Senate office after college, rising to become his personal assistant, known as the “body man.”

Full article here (Reggie Love photos here)

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Last night:

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Gallup

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Morning everyone 😉

02
Sep
11

chat away

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