| Economic Fears Hit World Markets |
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| by Tom McGregor | Thu, Sep 4, 2008, 05:17 PM |
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US and European shares have fallen sharply on further fears over the state of the The BBC News reports that, “ The slides occurred after US data showed sluggish shop sales and mounting unemployment claims. Also, the European Central Bank cut its 2009 growth forecast from 1.5% to 1.2%. The jitters in the Adding to anxiety were weak sales in the closely-watched back-to-school period. According to the BBC, “on Friday, the closely-watched US monthly employment report is published, with analysts expecting the US economy to have lost an additional 70,000 jobs in August, taking the yearly total over 500,000. Concerns about inflation have prevented central banks in the To read the entire article from the BBC News, link here:
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written by Steve Heath , September 06, 2008 And now we have a Fannie Mae/freddie Mac bailout for the pigmen on Wall Street who have looted this country for years. Apparently made necessary by blackmail from the Chinese, Russian and other foreign investors who own the bonds and preferred stock based on fraud from the Wall Street pigmen who sold the paper with fraudulent bogus credit ratings. Americans are screwed once again. They say we may be on the hook for $25 billion - Don't be surprised if the amount is many, many multiples of this figure. Write comment
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