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Economic News Week: September 12, 2011

By Tony Stevenson/SWBC Mortgage

     The DOW plunged this past Saturday as investors took notice of Europe’s  financial failings and fears that the U.S. may still be in for another recession.  Greece remains in danger of  defaulting after a crucial bailout just 16 months ago.  I heard one economist say that Europe is ruining the day, “like a snowball rolling down hill and holding the U.S. captive”.  Fear overcomes greed.  “Markets always vacillate between fear and greed, and today we’re coming down pretty much on the side of fear, said Kim Forrest, equity research analyst at Fort Pitt Capital Group.  The DOW has been down six of the past seven weeks ending this past Friday at 10992.13.  Still, U.S. wholesalers stockpiled inventories  in July even though sales were flat.  Regarding the Trade Deficit, a record level of exports and a drop in oil prices narrowed the U.S. trade deficit in July to its lowest level in three months-which to me is a good thing.  Ben Bernanke spoke about how the FED has the tools to help correct the economy but, he did not elaborate.

September 13, 2011 - Posted by | Fredericksburg TX

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