At 11:35 ET Obama is expected to announce a freeze on federal salaries. Will this be a market mover or was this the cause of the morning sell off when it leaked?
Sell off? That is good news for the economy in theory. Means that the US GOV my have the balls to start cutting into the spending. But this is just a small step compaired to what EURO land is taking. Obama does not want riots...so we will see what happens..will he actually lay off 100,000s of fed workers?
It needs to be 10 years to get fed workers back below the avg civilian. But ultimately its bullish for the DXY. As you can clearly see.
Correctamundo! He runs up $3 TRILLION in deficits supporting all kinds of government employee this-and-that... plus, union pension deficits... and NOW he gets religion about "fed workers and deficits"? WHAT A TURD!!
CEO of Walmart is meeting OBAMA behind close doors today. The CEO a few months ago put out a press release stating that he believes we are in a Major Recession (code word for Depression per sa)and the Bread lines of the 1930s are at his stores. The amount of FOOD STAMPS they process since the begining of this depression is insain. Obama wants to get a feel for 'Mainstreet', according to the sorce.
dude, basic spelling goes a long way. as for the bread lines, google "midnight shoppers at walmart" and you'll see what he's talking about. at around 11PM on the last day of the month, people begin to flood walmarts because at midnight, their food stamp debit cards get deposits. it's a really depressing aspect of this economy. as for obama, he's a clueless bozo. freeze salaries now, at all time highs. h/t ZH http://www.zerohedge.com/article/obama-freeze-government-salaries-all-time-high change we can believe in.
Obama is simply playing to American sentiment. America is strapped and they perceive gov't workers to be living high on the hog. He is simply making a cheap and easy popularity play. Anyone who believes that he is making a concerted effort to reduce gov't spending is just not in touch with reality. They expect to save $60 billion over 10 years. Um.... the same 10 years that we are expected to run a $9 trillion deficit. I just put all new hardwood floors in my downstairs. The contractor quoted me $9k for the job. When the job was done, he said "You know what buddy. My estimate was too high. I can't do that to a nice guy like you. I'm only charging you $8940. " I said, "Fuck you, Obama." I can't believe I voted for this douche bag.