Topic: Stock Market

Hope vs Fear & Ignorance: Which will win?

By Sue Freeman Culverhouse | September 7, 2009 |

Our society is at war with itself. The downturn in the economy has brought great fears to many citizens. People who focus on their fears have little chance of seeing a solution. Fear is a paralyzing emotion. Mix that with ignorance of some basic facts that are misconstrued by devious politicians seeking their own aggrandizement and you get demonstrations that defy logic.

With citizens in all walks of life losing their jobs and needing hope, some officials more concerned about grandstanding they hope will lead themselves to higher political office than to addressing the suffering of the people who elected them.

When people need hope, more money in their pockets, possibility of new jobs opening up for which they are qualified, we are unfortunately faced with some politicians who are more interested in spreading lies than in solving problems.

Yes, we all have to support our government through taxes. Yes, we need to be as frugal as possible with public money. Yes, we need to cut pork out of all budgets—federal, state, local or personal.

But first we need to bail ourselves out of the mess we’re in. «Read the rest of this article»

Sections: Commentary | 2 Comments

It’s official: We are in a recession. Is anyone surprised?

By Christine Anne Piesyk | December 2, 2008 |

The National Bureau of Economic Research announced today what Americans have known, or at least suspected, for the past year: the United States is in a recession. It’s official.The recession, according to the NBES, began in 2007, again, no earth-shattering news to many Americans.

The statement came even as the stock market, which had a rebound last week, tanked on the news, dropping 400 points by noon Monday and closing the day down by 680. With a public still reeling from months of soaring gas prices and the fallout of higher food and other retail items (due in part to exploding transportation costs), the reality of recession with or without documentation from a national bureau. «Read the rest of this article»

Sections: Business, News | No Comments

Economy impacts financial planning for those retirement years

By Rev. Charles Moreland | October 26, 2008 |

This is the second of three articles on the issues of retirement.

In the Ozarks of Missouri,my grandparents never got to retire, nor did I ever hear them discuss it. The dream of sitting on the front porch in a rocking chair with their dog at their feet was always a serene unrealized thought. Because of their hard-scrabbled living on a small farm, they never had enough money to retire. From sun-up to sundown they collected the eggs, milked the cows, worked for neighbors for 50 cents a day. washed their laundry by hand on a washboard, cooked, and did numerous other chores that occupied their time but brought little cash to show for that strenuous effort to survive.There was no retirement for them. «Read the rest of this article»

Sections: Business, Opinion | No Comments

The “D” word: DEPRESSION. Is it coming?

By Christine Anne Piesyk | October 6, 2008 |

The Dow took a nose dive, sinking below the psychological panic line of 10,000 today, closing at under 9500, with no signs of imminent recovery. Oil dropped below $90 a barrel for the first time in eight months. The near-broke states of California and Massachusetts are seeking the same kind of “bail-out” relief that banks across the nation were awarded last week. News photos across the board capture looks of abject horror, unfettered dismay and complete shock, depending on which picture you view. All this despite a $700 billion dollar bail-out passed by U.S. Senators and Representatives Capitol Hill last Friday.

Does the word “recession” come to mind?

Timing is everything, and this economic downturn arrives on the heels of a long hot storm-laden disaster-ridden summer in the South and East, with the fall and incipient winter heating season across the northern half of the country. «Read the rest of this article»

Sections: Business, News, Opinion, Politics | No Comments

U.S. Market Meltdown: Three times is enemy action

September 23, 2008 |

James Bond’s wealthy nemesis may have had an obsession with gold, but he judged, quite correctly, that if people keep putting your plans awry, that was likely their intent.

“Once is happenstance. Twice is coincidence. Three times is Enemy Action.” — Auric Goldfinger, Ian Fleming’s James Bond

In 1982, the same year John McCain entered the Senate, a bill was put forward that would substantially deregulate the Savings and Loan industry. The Garn-St. Germain Depository Institutions Act was an initiative of the Reagan administration, and was largely authored by lobbyists for the S&L industry — including John McCain’s warm-up speaker at the convention, Fred Thompson. The official description of the bill was “An act to revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans.” Considering where things stand in 2008, that may sound dubious. It should. «Read the rest of this article»

Sections: Business, Opinion, Politics | No Comments

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