Now looking to do for the world what they have done for the US in damaging US creditworthiness…
Foreign Investors join their American counterparts in no longer believing Tea Party majority US Congress will do the right things for the US or World economy.
The Tea Baggers are idealoges, clinging to a thoroughly discredited mantra bent on destroying the Governemnt – and who are doing, and have done more damage to the United States…
Than Al Quaeda.
That “credible terrorist threat” reported by Law Enforcement on the 10th anniversay of 9-11 isn’t radicalized Muslims…
It’s radicalized Republicans.
World stocks fell Friday on investor worries that a U.S. plan to stimulate jobs and growth will be held up in Congress and may not be followed fast enough by action from the Federal Reserve.
The euro hit six-month lows against the dollar and the yen with more falls likely after the European Central Bank shifted away from further rises in interest rates, a key driver in the single currency’s rally this year.
U.S. shares were poised for a weaker open, extending Thursday’s falls after Federal Reserve Chairman Ben Bernanke left the door open for new stimulus measures but stopped short of signaling the central bank would take the plunge.
Markets are concerned that President Barack Obama’s proposed $447 billion package of tax cuts and spending plans aimed at boosting growth and job creation could be hamstrung by political wrangling.
“Investors are holding back…There isn’t any reason to commit until you can see credible policies,” Justin Urquhart Stewart, director at Seven Investment Management, said.
“Bernanke was never going to say anything. He made it clear at Jackson Hole he was pushing it back to the politicians. Obama has come up with this stimulus package. We now have to digest what effect this will have, assuming it is passed.”
European shares fell as much as 1.1 percent, pulling down the MSCI world equity index 0.7 percent. S&P index futures were last down 0.6 percent, pointing to a lower start on Wall Street.
Market confidence has been fragile this week due to growing concerns over the global economy and Europe’s debt crisis, with Friday’s deadline for bond holders to decide on Greece’s swap offer adding to the nervousness.