Business

Market Recap: Did Europe Just Save the World?

[Editors Note: The following is a cross post from Wall St. Cheat Sheet]

Markets closed up on Wall Street today:

  • Dow +2.86 percent
  • S&P +3.43 percent
  • Nasdaq +3.32 percent
  • Oil +4.1 percent
  • Gold +0.74 percent.

On the commodities front:

  • Oil (NYSE:USO) shot the moon to $93.90 a barrel.
  • Precious metals were up, with Gold (NYSE:GLD) climbing to $1,735.50 an ounce while Silver (NYSE:SLV) gained $1.80 to settle at $35.11.

Today’s markets were up because:

1) Europe, Europe, Europe: In case you were visiting another planet today, the EU has taken steps toward an all-out bailout. Many see the global financial system hinging on such a plan carrying forward (although Greek bond holders will take a hit, but hey, that’s the risk of investing in the first place). Here’s How European Leaders Agreed to Combat Debt Crisis.

2) GDP: The U.S. economy grew at its fastest pace — 2.5 percent — in a year in the third quarter as consumers and businesses alike stepped up spending, creating momentum that could carry them through the holiday shopping season. It’ll most likely be revised lower later.

3) Industrials: General Electric (NYSE:GE), 3M (NYSE:MMM), and Caterpillar (NYSE:CAT) were off to the races in the “world might not come to an end” trade. But Alcoa (NYSE:AA) led the leaders, pasting on 9.46 percent.

Wow.

Even Exxon (NYSE:XOM) managed to pipe in a gain after earnings only brought in $125.33 billion in revenues. Poor them.

Comments (109)

1 2 3
  • TRILO
    Posted on October 27, 2011 at 8:07pm

    What a scam the entire European debt deal is. Printing $$, using debt to pay debt, bond holders taking a 50% hit on their investment. Changing the perception that this was not a forced debt deal to avoid CDS from being called. Who in their right mind would want to buy Greece or any European soverign bonds. If they force a 50% cut today against Greece bondholders what will they do tomorrow with the bondholders of Italian and Spainish, etc debt???

    In about 60 days the US national debt will reach 100% of GDP. Just heard Boehner answer a question about the Balanced Budget amendment and if he would support the version that does not cap the spending and require a super majority vote to pass a tax increase. He actually said he needed to go to his members to see what they want. With the leadership we have in Washington on with both political parties, the people in this country are screwed.

    http://cnsnews.com/news/article/boehner-wont-rule-out-balanced-budget-amendment-permits-unlimited-federal-spending

    Report Post » TRILO  
    • spirited
      Posted on October 27, 2011 at 8:17pm

      Yay….who do they think they are?

      >America?

      Report Post » spirited  
    • Cynic-clinic
      Posted on October 27, 2011 at 10:12pm

      Trilo is right on: The European banks give up 50% of the value of bonds they hold and the EFSF turns around and re-pumps capital into those same banks to make up for the loss they just claimed. Result=Zero.

      The private bondholders lose 50% of their assets but the EU-money-shell-game-Inc convinces them that buying EU bonds is a yummy idea since the EU bonds will be guaranteed so that when all the EU countries, led by Greece, default again the EU will print more funny-money and wash its troubles away. Investors end up with guaranteed junk (looks good pasted on walls).

      When the European debt shufflers run out of new names for debt schemes and can no longer kick the can down the road–they’re toast.

      Report Post »  
    • 808Butters
      Posted on October 27, 2011 at 11:06pm

      Leadership in US in general is what’s lacking greatly. Not just at the top, but all the way down to the classrooms. Politics and business especially. Consider even your co-workers and your own friends. True leaders are few and far between. Truly good ones are rarely seen.

      Report Post »  
    • CatholicPatriot2
      Posted on October 28, 2011 at 3:17am

      Remember what Glenn said. The Markets will shoot way up and then fall straight down to the bottom. I think we are on a roller coaster and we may be on our way up only to go down fast and hard.

      Report Post »  
    • WeDontNeedNoSteenkinBadges02
      Posted on October 28, 2011 at 3:57am

      (part 1)

      http://www.theblaze.com/stories/market-recap-did-europe-just-save-the-world/

      The Holy Roman Empire (oops, “New World Order”) is working up it’s own “crisis” for the Beast and the False Prophet (oops, “Global Governance”):
      “The End Time HOLY ROMAN EMPIRE (REBORN)! — Oh, Didn‘t You Notice It’s Arrival On November 3rd 2009?”
      http://www.youtube.com/watch?v=mGIey9PitCU

      Report Post » WeDontNeedNoSteenkinBadges02  
    • WeDontNeedNoSteenkinBadges02
      Posted on October 28, 2011 at 4:09am

      (part 2)

      Also:
      “Effects of Sept. 11 – One Year Later”
      http://www.endtime.com/archived-magazine-articles/effects-of-sept-11-one-year-later/
      More recently, Mikhail Gorbachev and Maurice Strong have co-authored a docúment called the Earth Charter.
      …
      Mikhail Gorbachev so strongly condemns religious exclusiveness that he places it in the same category as genocide or crimes against humanity. In his book “Perestroika”, Gorbachev’s blueprint for global peace and security, he states on page 231 of the hardback edition, “We must extirpate all genocide, apartheid and religious exclusiveness.”
      …

      Report Post » WeDontNeedNoSteenkinBadges02  
    • WeDontNeedNoSteenkinBadges02
      Posted on October 28, 2011 at 4:17am

      (part 3)

      President Bush … Neatly tucked away in the plans for Homeland Security was a provision for the establishment of a national ID for every American citizen. … In spite of opposition from Congress to the National ID scheme, implementation is proceeding anyway …

      … what Bible prophecy has to say about the emerging global ID system?

      “And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name” (Revelation 13:16-17).

      Report Post » WeDontNeedNoSteenkinBadges02  
    • curtisgb
      Posted on October 28, 2011 at 8:05am

      Math will always win in the end.

      Report Post »  
    • Ruler4You
      Posted on October 28, 2011 at 10:48am

      Facts? No. What europe just did was go all in. Greece is NOT going to change the way it does socialist business. Italy is going next. And then Spain and France. The sinking EU will take the already ailing Ireland and the only real productive nation; Germany along with the rest of them. They are already coming up with the next “quick fix” regional currency for the EU.

      Secondly, the using numbers from the DOW and other markets only reemphasizes the extreme volatility of what is supposed to be an “investment” market. These markets are daily demonstrating that they aren’t stable.

      When the market can, in one month, loose and gain 5% of it’s value, and then do it 5 times in a year, it is NOT an investment. It’s a GAMBLE. And a big one. Entire life times of earnings and disciplined saving can be wiped out in a few hours.

      Sorry, I don’t buy the “quick fix” analogy. If it was ‘that’ easy (to fix) it was never as bad as they told us in the first place. And all of the DOW up/dn was only to siphon off equity. Yours and mine.

      Report Post » Ruler4You  
    • A Doctors Labor Is Not My Right
      Posted on October 28, 2011 at 4:51pm

      Excellent job, Blazers.

      All they are doing is trying to keep the fiat bubble inflated. It will crash, and hopefully we’ll have enough trade being done in commodity money so that we will be free to grow the economy.

      Report Post »  
  • glennrocks
    Posted on October 27, 2011 at 8:05pm

    Liberals are crazy!!!!

    Report Post »  
  • Ponyexpress
    Posted on October 27, 2011 at 8:05pm

    Greece was broke yesterday. The EU waved a magic wand and they are not broke anymore?
    Our market goes up over 300 points!
    Wow!
    Smells fishy to this idiot

    Report Post » Ponyexpress  
    • SFsuper49er
      Posted on October 27, 2011 at 8:23pm

      Were all saved in one day….

      Report Post »  
    • Delta D-5-3
      Posted on October 27, 2011 at 10:06pm

      Yep……..there going to print more money to…….bail themselves out!?? And the WORLD acts like it’s saved itself from disaster??? Guess what? You had better get yourselves ready!! We’re in BIG TROUBLE real soon!!!!!

      Report Post » Delta D-5-3  
    • Cynic-clinic
      Posted on October 27, 2011 at 10:17pm

      You’re not the idiot–everyone who belives that the EU problems are solved are the idiots, and that goes for the entire US stock market scam.

      Report Post »  
    • HowardSternIsABigot
      Posted on October 28, 2011 at 8:25am

      the only thing that happened yesterday was the convincing of the greeks, spanish, portugese, and other losers they have no reason to curtail the idiocy of their economies. the road to hell has just been paved in euros with good intentions.

      Report Post »  
  • PATRIOTGRUNT
    Posted on October 27, 2011 at 7:32pm

    Boy what the hell am I going to do with all my guns, ammo and food now that the World has been saved ? I’m going to keep it and get some more. These morons didn’t save anything , they just postponed inevtiaible collapse of the whole counterfeit system that is EU.

    Report Post » PATRIOTGRUNT  
    • chazman
      Posted on October 27, 2011 at 7:41pm

      … with the U.S. over 14 trillion in debt, and the EU nothing but a pile of paper, who the hell thinks Europe just saved the world? Only a Liberal Marxist could be stupid enough to say something like that!

      Report Post »  
    • LadyIzShy
      Posted on October 27, 2011 at 7:51pm

      I agree with you on this stock up guns amo food and gold if ya can..

      Report Post » LadyIzShy  
    • KickinBack
      Posted on October 27, 2011 at 7:55pm

      I can see the Europeans dancing in the streets now…Yay! More entitlements!

      Report Post » KickinBack  
    • Ookspay
      Posted on October 27, 2011 at 8:13pm

      The problems that brought Europe to the brink are structural and have not been corrected. Time was bought, nothing has been fixed. The socialist system was merely given a temporary repireve. Under the Obama regime we are walking in their footsteps. Our creditors will not be so magnanimous.

      Report Post » Ookspay  
    • Dabldo
      Posted on October 27, 2011 at 9:29pm

      Give you half what you paid for it! Hurry! The price is dropping (I hope).

      Report Post »  
    • hidden_lion
      Posted on October 27, 2011 at 10:01pm

      “I agree with you on this stock up guns amo food and gold if ya can..”
      Forget the gold, you can’t eat, drink gold, you could shoot it, but those would be costly bullets. When everything fails there will be no way to carry or trade it. Stock up on booze and toilet paper for trading. I bet a bottle of jack will be worth more than an ounce of cold once people can’t get it anymore.

      Report Post » hidden_lion  
    • NickyLouse
      Posted on October 28, 2011 at 6:18am

      Well as someone whose family has seen its share of grief over alcoholism, I cannot and will not contribute to another person’s demise for the sake of prospering myself. I will rather try to develop ways of being self-sustaining.

      We are going to begin raising small animals that reproduce quickly for meat, continue stocking freeze-dried goods and non-perishable necessities. If we only live 3 months after the collapse, I guess it will be worth it. We will have time to be tested and proven faithful to our Lord and Savior, Jesus.

      Report Post » NickyLouse  
  • TxMadMac
    Posted on October 27, 2011 at 7:27pm

    To answer your question; Jesus did that over 2,000 years ago. All this nonsense is mans doing.

    Report Post »  
  • wbalzley
    Posted on October 27, 2011 at 7:18pm

    Question: Why is it that when we print money, everybody screams and treats it like its fake, but when we print up debt we scream and pretend that its real? Are debts are only as real as our money.

    Report Post »  
    • Anthony7
      Posted on October 27, 2011 at 8:25pm

      When the $ is the world currency the debt is real and the value of the currency is also, the value of all other money and all major resources are valued agaist th US Dollar.

      Report Post »  
    • steveh931
      Posted on October 27, 2011 at 8:28pm

      U.S. Currency was once backed by gold, the Federal Government tried not to spend more than what they had in reserve. Mr. Nixon changed that in 1972 I believe. Once our currency was no longer backed by gold it became Fiat currency. Fiat currency is only worth the paper it is printed on, this allows our Federal Government to continually run up the National debt with their socialistic values.

      Due to Socialist programs, Greed, Bad Investment Strategies and War, our economy and the global economy came very close to falling into a depression, some say we did.

      Decisions had to be made by those who put us in this terrible situation to begin with. Those decisions and the debt that comes with them are what we are living with today. A undisclosed amount of companies were bailed out and created at the tax payers expense.

      The present situation is just as bad. Now we have a President that thinks he can spend his way out of this economic mess with investments by the Federal Government into Green Energy and Wealth Redistribution to everyone that supports him, they stand by him with their hands out.

      Most of the bad debt from these companies that are failing, is bought by the Federal Reserve and Foreign Countries in the form of T-Bills, they want to be paid back one day. This action is what allows the Treasury to keep printing currency, devaluing our dollar and supporting socialism. I‘m sure someone will let me know if I’m wrong.

      Report Post » steveh931  
    • hidden_lion
      Posted on October 27, 2011 at 10:05pm

      Actually you are correct, the debt is just as imaginary as the money we print. It is just numbers on a computer. Cut the power and can anybody prove we owe it? How would they possibly be able to collect? Modern day america is built on a foundation of straw, the winds are starting to pick up.

      Report Post » hidden_lion  
    • steveh931
      Posted on October 28, 2011 at 1:14am

      Last time I looked China held approximately 2 Trillion Dollars in T-Bills, if you think China will forgive this debt, think again. But then again, this may be the reason Rev. John Hagee mentioned in his book “Financial Armageddon” that the United States would battle China in the Great Valley. What a better way to pay your debt than with your own blood. Maybe I need to give this some more thought.

      Report Post » steveh931  
    • reform
      Posted on October 28, 2011 at 12:12pm

      Steve we were there and still are there but most likely because of Social Security with the elderly that wasn’t there when our grandparents were alive has kept many elderly afloat, which in turn has kept many others slightly above water as well. Take away Social Security from the elderly and think where this country would’ve been but now that system is also broke and the question remains where does that leave the rest of us moving forward in the future?

      Report Post »  
  • wisehiney
    Posted on October 27, 2011 at 7:17pm

    Those dear old wall street boys always love to get all the suckers ecxited and lure them back into the market just before pulling the rug out from under them. Plus they desperately need to get the numbers up to make the annual bonus. I have been waiting for this phony europe/world saved! rally. Time to have some sport with the big boys.

    Report Post »  
    • Cynic-clinic
      Posted on October 27, 2011 at 10:30pm

      Me too !!! Was just dying for a big ‘Europe saved the world’ rally that I went short on everything in the market today, so short they had to peel me off the floor. If it goes up another 100 points tomorrow I’m even going to short the US porn industry !!.

      Report Post »  
  • NoMarxist
    Posted on October 27, 2011 at 7:03pm

    How long until we hear about the federal reserve sending a half trillion over to Europe to save the banks that were too big to fail??

    Report Post » NoMarxist  
  • Abraham Young
    Posted on October 27, 2011 at 7:01pm

    Ah, the deceptively simple nominal value of wealth. Print some more money there, Ben.

    Report Post »  
    • Eliasim
      Posted on October 27, 2011 at 7:05pm

      Everything they print here and in Europe has to come out of someone’s hide.

      Report Post »  
    • reform
      Posted on October 28, 2011 at 12:07pm

      Who bailed out the EU? I do believe it was China! Now why would they do that and wasn’t it China Russia and Brazil that was talking about a new currency last year? Now who holds the wealth of the EU in their hands?

      Report Post »  
  • paulusmaximus
    Posted on October 27, 2011 at 7:00pm

    How much of it is U.S. paper and how much is the dollar devalued because of it? Oil shoots up, gold goes back up, commodities up, Stock market has “bull” run. WHY! Did Martians come to earth and want to trade duty old gold for desert sand?

    Report Post » paulusmaximus  
    • wbalzley
      Posted on October 27, 2011 at 7:26pm

      I hate to sound like a broken record, but I am going to keep repeating this until it sinks in. Printing money does NOT cause inflation if it is invested in NEW Manufacturing. The equation in MACRO-Economics is:

      MV = PQ

      M = The Amount of Money (Printing)
      V = How fast it is spent
      P = Prices (inflation)
      Q = The Quantity of Goods / Services (JOBS).

      In addition, inflation only occurs in the location where the money lands. Notice that when the FED printed $600 billion there was NO inflation in the USA, but China came close to having riots because the inflation was so bad. Where do you think the money went?

      Report Post »  
    • randerson03
      Posted on October 27, 2011 at 7:41pm

      I found an electric bill from the 50′s for $2.63. Use common sense – not useless formulas.

      Report Post »  
    • wbalzley
      Posted on October 27, 2011 at 8:06pm

      @Randersono: formulas are common sense written in the language of mathematics. When you print more money, you either have to produce more stuff or prices will go up. More money means more people buying stuff. If ten people go to buy a products and there are only five left, then bidding will start, driving up the price.

      However, if money is put into NEW Manufacturing, then both the amount of money and stuff increase at the same time, and prices stay about the same. Printing money can help in a recession if it is invested in NEW Manufacturing.

      Report Post »  
    • OhioRifleman
      Posted on October 27, 2011 at 8:42pm

      @ Wbalzey

      Correct on concept, slight error on one detail point:

      There is no new manufacturing. There has been no new manufacturing in the United States in years. There will be no new manufacturing in the United States until the EPA is dismantled and the tax code is cleaned out.

      Your own post is proof positive of the logical inconsistency in your concept: inflation in China = new manufacturing in China, not over here. The inflation over there will come back to bite us in the arse shortly enough, doubly so with the onset of Christmas Shopping to come.

      Report Post » OhioRifleman  
    • Ookspay
      Posted on October 27, 2011 at 8:59pm

      @wbalzly, Watch out for the liquidity trap, where monetary policy is unable to stimulate the economy like we are experiencing now, people want liquidity. Negative expectations abound, only “irrational exuberance” can save us now (Europe). You can not push a string (the Federal reserve is the pusher and the string is the “real” economy).

      We are screwed, keynesian alphabet soup formulas are useless, nice try.

      Report Post » Ookspay  
    • hidden_lion
      Posted on October 27, 2011 at 10:10pm

      WB-“NO inflation in the USA”
      I don’t know where you shop, but the price of everything has gone up over the past year. Particularly the cost of food. More dollars= less value/less demand…

      Report Post » hidden_lion  
    • Vunks
      Posted on October 27, 2011 at 10:23pm

      The creation of money is inflation. That new money spreads out and prices rise. You confuse the symptoms for the disease

      Report Post »  
    • Cynic-clinic
      Posted on October 27, 2011 at 10:50pm

      @Wbal–As more currency chases existing goods, like an auction, the prices of goods increase. Moving more goods into the market slows the rise of prices but where will the capital to produce more goods, at a higher cost, come from when the value of the dollars in circulation has been reduced by oversupply?

      After all, currency is a commodity too.

      Report Post »  
    • wbalzley
      Posted on October 27, 2011 at 11:59pm

      @ everyone: First, I just want to say THANK YOU for all your thoughtful comments. It is nice to see people discussing these things.

      @OhioRifleMan: The money went to China alright, but their economy was already running at full capacity. The money did NOT go to NEW Manufacturing. It was dumped into commodities and real-estate, creating inflation.

      @OhioRifleMan and Ookspay: Although the FED can print money (Monetary Policy), it cannot determine where that money goes. This is determined by CONGRESS through spending and incentives (Fiscal Policy). The problem is that they are NOT putting money into NEW Manufacturing, but are instead giving it to old companies who use it to buy up competitors and expand overseas.

      Report Post »  
    • wbalzley
      Posted on October 28, 2011 at 12:21am

      @Hidden_Lion: Inflation is not the only thing that can cause prices to go up. Decreases in supply and Increases in demand will also cause prices to rise. For the past couple of years, bad weather has destroyed crops, creating shortages. At the same time, economic expansion in China and India have led to an increase in demand. More demand + less food = higher prices.

      Again the same is true with energy. Instability in the MIddle East threatened to decrease oil supplies; add that to increasing demand in China and India, you get a rush of speculation in oil futures. More buyers = higher prices.

      This volatility is one of the reasons the FED excludes food and energy from its inflation model.

      Report Post »  
    • Ookspay
      Posted on October 28, 2011 at 12:43am

      @Balzley… You do know your stuff, I agree with you on about 85%. The PIIGS are the wildcard and they unfortunately will have a big impact on what wicked this way comes. US Banks and the FED hold a lot of the bonds that have and will continue to get haircuts( default) contagion… Any how it has been great exchanging comments, good stuff said by all. I may post again tomorrow as I have more to say and maybe a prediction or two. but for right now I am engrossed in maybe the best World Series game I have ever seen ! WOW!

      Report Post » Ookspay  
  • TeaPartyanimal
    Posted on October 27, 2011 at 6:54pm

    earthquake coming….tsunami to follow.

    Report Post » TeaPartyanimal  
  • getuclu4u
    Posted on October 27, 2011 at 6:54pm

    Don’t forget the pope is calling for a one world financial system too. I do believe that the “church” has a whole lot of gold, rubies, diamonds…etc

    Report Post »  
    • Eliasim
      Posted on October 27, 2011 at 6:59pm

      Get out, really?

      Report Post »  
    • sooner12
      Posted on October 27, 2011 at 8:54pm

      Hey, Getabrain, the Pope has not said that, an advisory conference did; which, based upon this groups record, I doubt that he would. If and when that happens go find what you apparently have lost.

      Report Post »  
  • Eliasim
    Posted on October 27, 2011 at 6:52pm

    I’m surprised so many people are on here. I figured tonight is one of many regional Annual Pagan Candy Begging events.

    Report Post »  
    • hidden_lion
      Posted on October 27, 2011 at 10:14pm

      Halloween is awesome..its not begging, it is more like extortion or racketeering…You go to the people, you say give me a treat or I will pull some sort of mischief on you…But you get to dress up in fun costumes and decorate your yard with dead things

      Report Post » hidden_lion  
  • knighttemplar999
    Posted on October 27, 2011 at 6:50pm

    I’ll probably buy some 3X short ETFs tomorrow.

    Report Post »  
  • Eliasim
    Posted on October 27, 2011 at 6:50pm

    Yep that’s it. The world’s all saved.

    Report Post »  
  • Sicboy
    Posted on October 27, 2011 at 6:47pm

    Did Europe Just Save the World? No. just postponed the inevitable by a few months and doubled the impact of the collapse when it does happen. Follow @jamesgrickards on twitter. He knows whats coming up next.

    Report Post » Sicboy  
    • dsinsg
      Posted on October 27, 2011 at 6:54pm

      Gives us alittle more time to prepare. Get your food storage shored up. More ammo, and get yourself a reloader for Christmas!

      Report Post »  
  • Uncurable wound
    Posted on October 27, 2011 at 6:45pm

    Dont believe the hype
    According to the US Department of Commerce, GDP in the quarter ended Sept 30, 2011 grew at a 2.5% annual rate or by $185.8 billion in the quarter. A few weeks earlier, the US Department of Treasury reported that for the fiscal year ended Sept 30, 2011, the budget deficit grew by $1.3 trillion, or roughly $325 billion for the quarter. So the government spent a total of $325 billion more than it received in tax revenue in the third quarter so the economy as a whole, government, corporate and private sectors could generate a total of $185.8 billion in incremental sales of goods and services. Why didn’t somebody think of this before?
    You can check out the rest at
    http://chumbucketlive.blogspot.com/2011/10/us-gdp-growth-and-budget-deficit.html
    From what I understand europe is leveraging against their leverage.In American terms-they are getting a loan,and then using that money to get another loan,and then using that to get another….
    Does FUBAR mean anything to anyone?
    TEA

    Report Post »  
  • Snowleopard {gallery of cat folks}
    Posted on October 27, 2011 at 6:44pm

    Have they saved the world? Nope.

    Report Post » Snowleopard {gallery of cat folks}  
  • MrHoggLegg
    Posted on October 27, 2011 at 6:43pm

    As Herman Cain has said time and again ✯ We must thank the people responsible for the crisis that we find ourselves and this country in ✯ Professional Politicians ✯ Hows that working out for ya!

    Report Post » MrHoggLegg  
  • sle
    Posted on October 27, 2011 at 6:43pm

    perfect….as soon as all those liberals and socialists showed up to protest wall street it went up and up! stay their and keep the good work you morons!

    Report Post »  
  • olddog
    Posted on October 27, 2011 at 6:42pm

    Giant Can kick, You Can Fool Some of the people some of the time..Usuallly Leftists..

    Report Post » olddog  
  • ShamanWorld
    Posted on October 27, 2011 at 6:35pm

    1 week after killing Ghaddafi and robbing Libays’ oil and gold, France and Germany suddenly have $ a plan to save broke Europe. Coincidence?

    Report Post » ShamanWorld  
  • heyjim55
    Posted on October 27, 2011 at 6:32pm

    This is a farce don’t believe it the EU is in trouble they just kicked the can down the road again like the Fed.

    Report Post »  
    • ireport uderide
      Posted on October 27, 2011 at 6:48pm

      You are correct sir!
      The only thing that will bring this economy back is cheap oil, cheap oil, cheap oil. Close the EPA, boot out the fools who belive that global warming is man made and invest in oil exploration.
      Even the socialists in Canada know that cheap oil creates a growing economy.
      nufsaid.

      Report Post » ireport uderide  
  • nomolibs
    Posted on October 27, 2011 at 6:30pm

    no they stole money either through taxation or inflation of our money or there money to bail out the banks. private loans made to a govt that can not pay is the risk a private company makes and they should have to pay, instead they will get bonuses off regular peoples cash. we need to stop this bailout culture the world is in!

    Report Post » nomolibs  
  • republapig
    Posted on October 27, 2011 at 6:29pm

    If anyone can screw this up, it is our so called leaders.

    Report Post » republapig  
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