Wednesday, Jul 18, 2007
US starts to admit it's not so rosy
FT.com: Bernanke remarks add to Wall St gloom
Wall Street was roiled on Wednesday by a combination of factors. These included disappointing earnings and guidance, renewed worries over financials and cautious remarks on the outlook for the economy from Ben Bernanke, the US Federal Reserve chairman.
In his prepared remarks before Congress, Mr Bernanke stressed concerns over inflation and the housing market and the Fed lowered its growth forecast for the US economy for 2007 and 2008.
Posted by dohousescrashinthewoods @ 06:32 PM (170 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. dobber said...
As much as the VI's try to calm things down, this is not going to go away.
1. US debt is bursting at the seems at all levels, Goverment, Private finance (PIRATE FINANCE), Corporate, Personal (mortgage & credit cards etc)
2. The Dollar is tanking.
3. How long will the Asian economies continue to buy Dollars/US debt?
4. Earnings are historical for companies, going forward the picture is bleak.
5. The consumer has nothing left, fully hocked and house prices tumbling.
The US Stock market will be the next to suffer!