Market News

I just am going to update the market events for this day by saying that stocks are on a rolling coaster ride down hill  and the current smarket is at minus 10.13.. This is to be expected to continue as more bad economic data comes out from the Fed and US Treasury showing a really bad economy. While more from other income sectors showing a real loss in consumer spending and credit card and bank companies charging higher interest rates on consumer and home loans this month this causing more pain for everyone. To add insult to everything more banks are on the Fed bank failure list and are slated to fail and close by the end of the year resulting in a loss of of consumer confidence in our financial system. Lawmakers are also talking about a second stimulis package to boost the sagging economy and promote growth in all current weakened sectors of goods and services. If this package does become reality then you will see Wall Street grow more conservitive and a worse stock and bond market down turn will happen in the not to distant future. The last stimulis package signed into law caused the current bad economics and increased the national debt to about 56 trillion dollars which we ae all going to eventually have to pay back. My thought is that this is terrible policy and we should repeal this package and other like it and stop spending money that we and our kids and grand kids are all going to be saddled with paying back over a long time. We should also go back to a standard of gold and silver as currency as a primary monatary funding for the whole country or at least back up all of the paper money with precious metals. This would give us a backing in hard times when we really need it and promote real growth and a better growth rate to all sectors of our economy that are hurting right now. I think that by using gold and silver coins are real net worth would increase over time and maybe we could begin to erase the burden of the debt that we as a nation and do the right thing by dealing with being 56 trillion we now owe for our wastefull spending habits. This would then start a new economic expansion that would effect every person living in America and increase the level of income for everyone not just the rich but also the poor too who need it the most. This would be put our nation in a recovery that we really need and help better everyone in business and Wall street grow bigger, faster and eventually make us a nation of being debt free which we need very much to become sooner.