Dow Tanks Amid Economic Angst

I hate to say it, but I saw this coming…

I’m far from a financial genius, but I pulled my 401K out of the Market a few weeks ago due to all the uncertainty due to the foolishness in Washington.  I’m not risking losing what little I have saved-especially if those fools may yet gut Social Security and Medicare.

Call me stupid, but when I listened to my ex-financial advisor who told me to ride it all out a few years ago, it didn’t work out too well…

The GOP and the Tea Party has created a false debt crisis that just may destroy the fragile economic recovery.  That may have been their plan all along…

They thought if the economic recovery could be halted, people would blame Obama and the Dems, then it would benefit them in the 2012 Elections.

I hope people may be a little smarter than that….

God knows, the Dems made it easy for them by not fighting back and standing up to the bullies….

But it just may be too late to prevent more economic chaos.

When Congress should have been focused on JOBS and securing the economic recovery through smart infrastructure development, they let the Tea Party Republicans side track them into this deficit reduction foolishness…

The Markets may be starting to realize this even if the public hasn’t yet focused on this fact….

Nothing.  And I mean nothing, this Congress has done has been to benefit the Middle class, the poor, the unemployed or the economy in general.

If people don’t have jobs-or fear they will lose the ones they have- they don’t buy things.

In a consumer driven economy like ours, that’s kind of important….

Not even the passing of a debt-ceiling deal was enough to quell investor anxiety about the current state of the U.S. economy. The Dow dropped more than 100 points during the final hour of trading on Tuesday. The stock market entered its longest losing streak in almost three years, while the Standard & Poor’s 500-stock index closed at a record low for 2011. The blue-chip index also went into its eighth consecutive decline. Low consumer-spending figures and boosts in Americans’ savings rates during the month of June are two signs that the economy is truly in a slump. To top it all off, Friday’s employment report is also expected to be gloomy.

via Dow Tanks Amid Economic Angst – The Daily Beast.

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Filed under Politics, The Economy, Uncategorized

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