Finally got a chance to look at the real Wall Street by myself and really hope good fortune will follow up onto me somehow this year:) //bless myself
Gold buyers rejoiced en force on the rate cut news, too. The yellow metal surged to a record $942. Overnight in Asian trading, gold settled back to a respectable $926.
The Senate Finance Committee approved its version of the “stimulus” package yesterday. It’s already $12 billion heavier than when it left the House… now weighing in at over $150 billion. Despite the extra funding, the average American will actually get less than they would had the House’s $146 package gone straight to law.
The current version of the stimulus package encompasses a wider range of potential recipients… now anyone making less than $150,000 per year will get a check. The new package will also now include those living on Social Security and unemployment, while additionally extending unemployment benefits and lightening requirements.
"This package will put rebates into the hands of 20 million additional American seniors," said committee chairman Senator Max Baucus, “plus lower-income payroll taxpayers and disabled veterans -- all of whom will spend this money quickly and give our economy the shot in the arm that it needs.”
3 comments:
A short sighted government is doing everything they can to have a good election year. My question is who is going to pay for the stimulus package anyway.
As far as gold is concerned, I am long until it hits $1000 mark.
US is already in a recession now. We are only waiting for the data to come out. Fed will keep cutting. It seems inflation will be the next thing that will hit. I am running out of ideas. Cash is not good, however all the commodities are sky high. Stocks are volitle and riskier. There is not a good place to be. Guess I will have to short something now.
yes, definately in recession. Just how bad it would be.
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