Markets ShakyStock Market continues to stagger - will be an interesting week coming up, especially to hear what the Fed has to say on Tues. DJIA is down 6% for the year and the Nasdaq down 11% - not a pretty picture. New job creation in July was absymal - only 32,000 new jobs created - a bit short of the some 215,000 predicted by the Govt - hey - thought those tax cuts were supposed to fix up the economy? Too bad the fat cats get the cuts and they just bank it rather than spend it. If you want the economy to move - give the little guy some money - he'll spend it.
From News for Real : A free market economy operates just like a natural world eco-chain - trouble anywhere along the chain quickly cascades throughout the entire system. Consumers under stress stop spending, orders for goods slow causing wholesalers to cut future orders from manufacturers, who lay off workers. Those workers then come under stress and stop spending, which then triggers the next downward cycle
Book Worth Reading
Crimes Against Nature: How George W. Bush and His Corporate Pals Are Plundering the Country and Hijacking Our Democracy by Robert F Kennedy, Jr. From an article by Kennedy - But George W. Bush's policy advisers somehow don't see the benefits we've received from our investments in America's environmental infrastructure. All they see is the cost of compliance to their campaign contributors – a group that is led by the nation's most egregious polluters. This myopic vision has led the White House to abandon its responsibility to protect the public trust......James Watt, President Ronald Reagan's first Interior secretary, once promised, "We will mine more, drill more, cut more timber." In April 2001, a retired James Watt told the Denver Post, "Everything Cheney's saying, everything the president's saying, they're saying exactly what we were saying 20 years ago, precisely. Twenty years later, it sounds like they've just dusted off the old work."
Tune in to NBC from 7-11 p.m. Eastern this coming Friday (August 13th) for the Opening Ceremonies. Prior to that, you can watch the Women's Soccer team take on Greece (live) on MSNBC from 9:30 a.m. to 12 p.m. on Wednesday, August 11th. Another interesting match before the Opening ceremonies begin is Irag against Portugual on MSNBC on Thursday, Aug 12th from 12-3:30 p.m. Action starts in earnest on Saturday, the 14th with coverage from 11 a.m.-5 p.m. and from 7-11p.m. on NBC. If you want to catch the Women's softball team and maybe catch fireballer Jennie Finch in action, tune in to CNBC from 1 p.m. - 3 p.m. on Saturday.
It will be interesting to see how Greece is able to pull off the Olympics - cross your fingers that the terroists stay home. The other day I had the chance to watch an interesting flyover of all the Greek Isles - think that was probably on PBS - beautiful and interesting - never really gave that much thought to how many islands were actually there - would be fun to jump from one to one - think I'll wait till after the Olympics are over, however . :)