88888FORCE: July 2011

Sunday, July 31, 2011

Obama, Congress Reach a Debt Deal ----------------------------JULY-31-2011--

Obama, Congress Reach a Debt Deal
JULY-31-2011--President Barack Obama announced agreement Sunday night with Republican congressional leaders on a compromise to avoid the nation's first-ever financial default. The deal would cut more than $2 trillion from federal spending over a decade.
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State of the Union: McConnell: $3 trillion in cuts on table -July-31-2011--

State of the Union:
McConnell: $3 trillion in cuts on table .
July-31-2011--Senate Majority Leader Mitch McConnell outlined the deal that's being discussed to raise the debt ceiling. INFO-AWARENESS - VIKEN Z KOKOZIAN

Friday, July 29, 2011

Investors pulling money out as deadline nears -July-29-2011--

Investors pulling money out

as deadline nears

July-29-2011--Growing nervous as a possible government default draws ever closer, more and more ordinary investors are calling their brokers and moving their money out of stocks and mutual funds for fear of a plunge in the market next week.

The stock market declined for a sixth straight day Friday as financial advisers fielded a new round of calls and emails from clients wondering whether to get out or sit tight.

Investors pulled about $32 billion out of money-market mutual funds for the week that ended Wednesday,

That is just a tiny fraction of the $2.6 trillion invested in such funds.

But the exodus appeared to be accelerating at week's end as Tuesday's deadline for reaching an agreement on Capitol Hill drew near.

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'Growth Recession' Latest Bad News for Faltering US Economy -July-29-2011--

'Growth Recession'

Latest Bad News for Faltering US Economy

July-29-2011--“Growth recession” is a term that means the economy actually is growing but not at a fast enough pace to head off rising unemployment, which is at 9.2 percent and trending higher.

In addition to all the other ignominy heaped upon the US economy comes the latest insult Friday—confirmation of a

“growth recession” that foretells a long, ugly road ahead.

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Thursday, July 28, 2011

Crunchtime for real debt Debt is money. -July-28-2011--

Crunchtime for real debt

Debt is money.

-July-28-2011--

And most of us could not buy a car -

Without debt, nobody could buy a home
two of the largest purchases made by individuals.
Gonzalez on debt ceiling "Boehner" bill vote
A balanced-budget amendment would eliminate the possibility of planning for the national defense, for infrastructure, for emergency relief and for a host of other governmental functions we depend on.
Congressman Dave Reichert incurred our national debt on behalf of the American people, and now he is obliged to raise the funds to pay for it. It’s not like the president is asking him to spend money he did not approve — for two wars, for tax cuts, for a Medicare drug benefit and for Social Security and Medicare/Medicaid.
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Leader of Rebel Military in Libya Is Reported Killed -July-28-2011

Leader of Rebel Military

in Libya Is Reported Killed

-July-28-2011--BENGHAZI, Libya - The top rebel military commander was killed Thursday, and members of his tribe greeted the announcement with gunfire and angry threats.
The violent outburst stirred fears that a tribal feud could divide the forces struggling to topple the Libyan dictator, Col. Muammar el-Qaddafi. The leader of the rebels’ provisional government, Mustapha Abdul Jalil, announced Thursday evening without providing details that unnamed assassins had killed the commander, Gen. Abdul Fattah Younes, and two other officers.

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The House delays vote on Boehner debt-limit plan - July-28-2011-

The House delays vote on

Boehner debt-limit plan

July-28-2011-- The US House is in recess and has delayed a vote on Speaker John Boehner's plan to raise the nation's

$14.3 trillion debt ceiling, as the GOP leadership struggles to get votes for passage.
Fears that the partisan deadlock in Washington won't be broken by an Aug. 2 deadline caused the stock market to tumble this week. The impasse on raising the debt ceiling also has raised the possibility that America's AAA credit rating -- and that of five states such as Virginia and Maryland -- will be downgraded.
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Wednesday, July 27, 2011

US stocks fall, politicians remain at odds -July-27-2011--

US stocks fall, politicians remain at odds

July-27-2011--US stocks plunged overnight as the country edged closer to defaulting on its debt and the economy showed more signs of deteriorating. Major indexes gave up all of their gains for the month.

The Dow Jones industrial average fell 198.75 points, or 1.7 per cent, to 12,302.55, its biggest one-day drop since early June. It has fallen for four days straight. The Dow is headed for its worst weekly decline in nearly a year and is now 4 per cent below the 2011 high it reached on April 29.
The S&P, which serves as a benchmark for most mutual funds, is also down 4 per cent from its recent peak.
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