Wednesday, July 18, 2007

US starts to admit it’s not so rosy

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 (494 views)
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One thought on “US starts to admit it’s not so rosy

  • 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!

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