"Crude oil ends slide, gains $1.05 to $125.49
Light, sweet crude for September delivery rose $1.05 to settle at $125.49 a barrel. At the gas pump, prices continued their retreat. The national average for a gallon of regular dropped more than a penny and a half to $4.03 a gallon."
Oh, goody!
"Weekly unemployment claims jump 9.1%; Median home price in June decreases 6%" by Associated Press | July 25, 2008
WASHINGTON - Two cornerstones of the economy - jobs and housing - sank to new depths, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
The bleak reports yesterday underscored the self-reinforcing cycle hampering the economy: As home prices sink, foreclosures rise, banks feel pressure to shy away from lending, and employers cut jobs.
With companies laying off workers and new jobs increasingly hard to find, the ranks of new home buyers could shrivel further, spelling even more trouble ahead for the housing market and the economy. Consumer spending, the very lifeblood of the economy, is further in jeopardy.
We are F*****, folks!!! AS PLANNED!!!!
"If you don't have a job or are concerned about keeping your job, you are not going to rush out to buy anything - let alone a home," said Richard Yamarone, economist at Argus Research.
Yeah, tell me about it!!!
Especially when you are STANDING in LINE for FOOD!!!!
A food bank gives out supplies in Coeur D'Alene, Idaho. More than 400,000 Americans filed unemployment claims last week. (Jerome A. Pollos/Coeur d'Alene Press via Associated Press)
They look like REGULAR PEOPLE to me, folks!
You know, people who could be LIVING DOWN the STREET!!!!
Wall Street sent stocks lower on the housing and jobs news, plus a record quarterly loss at Ford Motor and sharply lower earnings for Dow Chemicals Co. The Dow Jones industrials lost 283 points. The economic problems are on the minds of voters and presidential candidates, not to mention Capitol Hill and the White House. The troubles are expected to persist into the next presidential administration.
The country's economic straits are the public's biggest worry by far. Forty-four percent listed the economy as the top concern in a new Associated Press-Ipsos poll, up from 39 percent in April.
The White House, while noting that layoff filings can bounce around from week to week, acknowledged the job market needs to be bolstered.
"The bottom line is that unemployment, while relatively low by historical standards, is still higher than we would like, and we continue to take action to return to strong job creation," said White House press secretary Dana Perino.
You know what, Dana? Just GET OUT!!
You and this whole criminal administration: just GET OUT RIGHT NOW!!!
Rising mortgage rates are also adding to the headaches. Rates on 30-year mortgages zoomed to 6.63 percent this week, the highest in nearly a year.
Chafing under all the economy's problems, nervous employers have cut jobs for six months in a row. The unemployment rate, now at 5.5 percent, is expected to climb to 6 percent or higher by early next year."That's the mess asshole is going to be leaving this nation -- if not worse!!!
Oh, and about Ford.
Check out this duplicity:
"Ford's misery mounts to $8.7b; Firm will try luck with smaller cars" by Associated Press | July 25, 2008
DEARBORN, Mich. - Bleeding cash and with its very survival uncertain, Ford Motor Co., an icon of American automaking, will try to import some of its success from across the Atlantic.
Ford reported its worst-ever quarterly loss yesterday and disclosed plans to bring over six small, fuel-efficient cars it makes in Europe and start selling them in North America, where Ford is losing billions on its truck-heavy lineup.
But the help from Europe won't arrive until 2010: It takes time to retool US plants, and importing the cars directly is too costly. Ford has successfully sold cars in Europe for years, and it made billions of dollars selling trucks to Americans.
Most of the European models will be built in North America. The Fiesta subcompact will be built in Mexico, the European Focus will be built in Kentucky and Michigan, and the Transit Connect small van will be imported from Turkey."
Why did you guys LEAVE TO BEGIN WITH then?
--MORE--"
And they ain't really coming home, are they, despite what the article means to imply.
Sigh.
Oh, that lying and deceptive, agenda-pushing AmeriKan MSM!
Oh, and that bank bailout you weren't really getting, but thought you were?
PFFFFFFFTTT!
"Senate dispute stalls housing rescue plan
WASHINGTON - A housing rescue package designed to shore up confidence in Fannie Mae and Freddie Mac and stem mortgage foreclosures stalled in the Senate yesterday after a lawmaker insisted on last-minute concessions.
Actually, I'm glad because the bill is just a TAXPAYER BAILOUT for banks!!!
Not helping the foreclosed person at all.
Republican Senator Jim DeMint of South Carolina demanded a chance to amend the plan to curtail the mortgage firms' ability to lobby Congress. Senate Majority Leader Harry Reid rejected the demands, saying any changes would delay getting the plan to President Bush because the House would have to approve it again.
Senate Banking Committee chairman Christopher Dodd, a Connecticut Democrat, said the demands were blocking a final vote on the badly needed legislation - perhaps keeping the Senate in session until tomorrow.
DeMint said he wanted to ensure the lenders didn't use tax dollars that could come with the bailout plan to lobby Congress.
The House voted 272 to 152 Wednesday to approve the legislation, which would give Treasury Secretary Henry Paulson the power to inject capital into Fannie Mae and Freddie Mac and allow the government to insure refinanced home loans. The Treasury chief said the measure was critical to US financial market stability and persuaded Bush to drop a veto threat.
The bill also provides for a federal agency to insure up to $300 billion of refinanced mortgages for struggling homeowners.More like $800 BILLION, folks!
The frikkin' AmeriKan papers can't even tell you the truth about that!!
So WHAT ELSE are they LYING ABOUT and CONCEALING, readers?
Also see: 'The Mother of All Bailouts': Ron Paul
Besides, not every one is hurting (see below).
