Liberator TJ1984
09-09-2007, 01:42 PM
The Party or mass Suicides begin :eek: :D
Investors have been hoping for weeks for a rate cut from the Federal Reserve, which meets Sept. 18. But now, after last week's disagreeable jobs report, Wall Street is more nervous than ever over the possibility that even the expected quarter-point rate cut next week may not be enough to save the economy from slipping into recession and stocks from sliding into negative territory for the year.
On Friday, investors got a shock when the Labor Department reported a drop in August payrolls, the first monthly decline in four years. The report was seen as evidence that problems with the sluggish housing market and tightening credit have, indeed, become a real threat to growth. Consumer spending accounts for about 70 percent of the economy, and when consumers don't have jobs, they tighten their purse strings and miss their bill payments.
Ruh Roh Raggie :D
Investors have been hoping for weeks for a rate cut from the Federal Reserve, which meets Sept. 18. But now, after last week's disagreeable jobs report, Wall Street is more nervous than ever over the possibility that even the expected quarter-point rate cut next week may not be enough to save the economy from slipping into recession and stocks from sliding into negative territory for the year.
On Friday, investors got a shock when the Labor Department reported a drop in August payrolls, the first monthly decline in four years. The report was seen as evidence that problems with the sluggish housing market and tightening credit have, indeed, become a real threat to growth. Consumer spending accounts for about 70 percent of the economy, and when consumers don't have jobs, they tighten their purse strings and miss their bill payments.
Ruh Roh Raggie :D