Global Financial Markets Tremble As Bad Economic News Continues for US
Global Financial Markets Tremble As Bad Economic News Continues for US U.S. Offers Foreign Aid to Countries Holding Billions in Treasury Securities The Congressional Research Service released a report last month, a copy of which Fox News exclusively obtained, showing that in fiscal year 2010, the latest year that data was available, the U.S. handed out a total of $1.4 billion to 16 foreign countries that held at least $10 billion in Treasury securities, including China ($27.2 million), Brazil ($25 million), Russia ($71.5 million), India ($126.6 million), Mexico ($316.7 million) and Egypt ($255.7 million). China is the largest holder of U.S. Treasury bonds with $1.1 trillion as of March, according to the Treasury Department. Brazil held $193.5 billion, Russia had $127.8 billion, India owned $39.8 billion, Mexico held $28.1 billion and Egypt had $15.3 billion. www.foxnews.com/politics/2011/06/02/us-offers-foreign-aid-to-countries-holding-billions-in-treasury-securities/ www.foxnews.com/interactive/r/politics/2011/06/02/congressional-research-service-report-aid-to-securities-holders/ Dismal Jobs Report Fuels GOP Criticism of Administration on Economy Republicans continued to hammer Obama with an infamous chart pushed by his administration during the 2009 stimulus debate which predicted unemployment would stay below 8 percent and that, by this time, the rate would be below 7 percent. www.foxnews.com/politics/2011/06/03/employers-add-just-54000-jobs-in-may-unemployment-rate-rises-to-1-percent/ Global Financial Markets Tremble As Bad Economic News Continues To Pour In truthiscontagious.com/2011/06/02/global-financial-markets-tremble-as-bad-economic-news-continues-to-pour-in U.S. Growth: Slow and Volatile www.nationaljournal.com/economy/u-s-growth-slow-and-volatile-20110601 As the U.S. economy starts to slow down once again, global financial markets are beginning to tremble. Over the past couple of weeks, all kinds of bad economic news has been pouring in. The ADP jobs report was a "disaster", the housing numbers are dismal, manufacturing has slowed way down and consumer confidence is dropping like a rock. The Democrats and the Republicans are bickering over the debt ceiling and this is causing a lot of uncertainty as well. All of this bad news is starting to spook investors. On Wednesday, the Dow was down 279 points and the NASDAQ was down 65 points. It was the worst day of the year for the Dow, and many are wondering what is going to happen next if we see even more bad economic data. QE2 is slated to end at the end of the month, and already the bond markets seem to be anticipating QE3. If the U.S. economy enters another significant downturn during the second half of 2011, IT SEEMS QUITE LIKELY THAT THE FEDERAL RESERVE WOULD ATTEMPT TO DO SOMETHING TO STIMULATE THE ECONOMY AND THAT WOULD PROBABLY MEAN MORE MONEY PRINTING!!!! www.thetradingreport.com/2011/06/02/global-financial-markets-tremble-as-bad-economic-news-continues-to-pour-in/ House prices in the US are crashing again. With 18 million households across the country on the verge of defaulting on their mortgage, how will the fall in house prices affect your mortgage? www.economywatch.com/economy-business-and-finance-news/seven-questions-to-ask-before-refinancing-your-mortgage.03-06.html
