The two-week plunge in stock prices is signaling economic anxiety, but itâ€™s also compounding the problem: Lower stock prices are shrinking Americansâ€™ wealth, rattling their confidence and making them less inclined to spend.
And employers may become even slower to hire.
Cracks in the European financial system widened further Thursday as investors worried that Italy and Spain would be unable to pay their debts. Regulators have put banks there through a series of stress tests. The tests are designed to show whether the banks could withstand defaults by their weaker neighbors.
Fears of default by smaller, heavily indebted countries such as Greece and Portugal have been replaced by concerns about large Italian and Spanish banks. Some investors also worry that the banks are carrying too much of their home nationsâ€˜ debt and that the banks arenâ€™t reporting the true value of those bonds....
Scott McMahan wrote: If you don't think America is in trouble, then you haven't read this: FCC promises 100,000 jobs through 'call centers' http://www.cnn.com/2011/POLITICS/08/04/fcc.jobs/index.html I have been studying job growth over the past 5-10 years, looking at many charts of what job sectors are going to be expanding, and this type of job is about all I see. There is a fundamental shift going on in the job market right now, and no one seems to "get" it.
Agreed that there is a fundamental shift. But this is good news from an efficiently working economy not 'trouble'.
From the article, "Lower stock prices are shrinking Americansâ€™ wealth, rattling their confidence and making them less inclined to spend." You can say that again! and jpw, God schedule is always right on time no matter what the stock market is doing.
Gil Rugh said or, wrote: From before creation to the end of our life God has also ordained every moment. Although He is in full control, we are not to be living irresponsible and indifferent to the world around us, but rather living every moment reverently with the ambition of being pleasing to Him. This we can do regardless of our circumstances because we can be absolutely confident He has full knowledge and is in full control over everything in our world.
Europe and UK were panicing a bit this morning waiting for ther US job figures. This is the latest from this side of the pond...
"European markets have again fallen sharply amid a crisis of confidence in the ability of eurozone leaders to deal with debt problems. In volatile trading, the main indexes, including the UK's FTSE 100 and Germany's Dax, fell by up to 4%.
European Commissioner Olli Rehn said he thought the movements were "unjustified" and "incomprehensible". However, markets began to stabilise following better-than-expected jobs data in the United States." (BBC)
I have been studying job growth over the past 5-10 years, looking at many charts of what job sectors are going to be expanding, and this type of job is about all I see. There is a fundamental shift going on in the job market right now, and no one seems to "get" it.