Politics to Stall USA Recovery

The Word from Republicans on The Hill is, “we will oppose Obama’s plans” US President Obama is widely expected to announce a new jobs plan on or just after Labor Day when he returns from his vacation. The plan will likely include the extension of payroll tax cuts, new revenue for transportation projects and an extension of emergency unemployment benefits for the 9.1% of Americans still unemployed. Mr. Obama’s campaign advisor, David Axelrod, said Sunday that there is nothing in the proposal “that reasonable people shouldn’t be able to agree on”, but many Republicans are already preparing to reject and … Read more

U.S. Stocks Rise on Bets of More Stimulus; Treasuries Pare Gains

Speculation that the Fed will embark on a third round of asset purchases to stem off a recession grew after the Wall Street Journal reported that three former policy makers support the approach. More than $2 trillion was erased from the value of global equities in the past week, and Treasury yields set new lows for the year, amid concern the economic recovery is faltering. Service industries grew in July at the slowest pace since February 2010 as orders and employment cooled, Institute for Supply Management data showed today. Full article provided by Bloomberg @: http://www.businessweek.com/news/2011-08-03/u-s-stocks-rise-on-bets-of-more-stimulus-treasuries-pare-gains.html