S2007S
Registered: Aug 2006
Posts: 13839 |
07-27-12 05:24 PM
Fed Chairman Ben Bernanke and other policymakers "will have all the rationale they need to open the liquidity spigot."
HMMMMMMMMMMMMMMMMMM open up the liquidity spigot. Really, more liquidity, this is what Im trying make known, that idiots think that continuing to provide liquidity to the economy is the fix to the financial crisis, its not, why the fuck do people still believe this is the fix, its clearly not. This entire global economy is being artificially held up by cheap worthless dollars. Thats not a fix to this crisis. Continuing to keep liquidity and stimulus in the market is only creating inflation, while pushing the inevitable collapse closer to the edge once again.
Wall Street rises on GDP, stimulus hopes
ReutersReuters – 1 hour 43 minutes ago
By Edward Krudy
NEW YORK (Reuters) - Wall Street rose on Friday following a report on U.S. economic growth which met expectations and on hopes for further stimulus from the Federal Reserve and the European Central Bank.
U.S. economic growth slowed, as expected, in the second quarter as consumers spent at their most sluggish pace in a year. The figure was better than investors' worse fears but still weak enough to potentially push the Fed closer to pumping more money into the economy.
"The Fed's concern and mandate is employment. Annualized GDP growth at 1.5 percent cannot begin to mend the unemployment picture," said Joseph Trevisani, chief market strategist at Worldwide markets in Woodcliff Lake, New Jersey.
Fed Chairman Ben Bernanke and other policymakers "will have all the rationale they need to open the liquidity spigot."
Stocks leapt nearly 2 percent on Thursday, erasing much of the losses for the week, as ECB chief Mario Draghi said he would do whatever it takes to save the euro. That followed a story in the Wall Street Journal on Wednesday, which was seen as heralding a new round of stimulus from the Fed.
Optimism over further stimulus measures has helped offset a mixed U.S. corporate earnings season, with many companies beating profit forecasts but often missing revenue projections and warning about sluggish global growth.
As of Thursday, about half of S&P 500 companies have reported earnings. Of those, about two thirds have beat profit forecasts. Three in five, however, have missed Wall Street's revenue projections, according to Thomson Reuters data.
Gross domestic product expanded at a 1.5 percent annual rate between April and June, the weakest pace of growth since the third quarter of 2011, the Commerce Department said on Friday. (Reporting by Edward Krudy; Editing by Kenneth Barry)
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