A recent spike in the rate banks charge each other for short-term borrowing is reviving investor fears that the market is returning to the abyss of the credit crisis.
By historical standards, the London Interbank Offered Rate, or Libor (: USL3M), remains at extremely low levels, with the closely watched three-month rate moving to 0.5363 percent Tuesday. It was the 11th straight day the rate rose.
But a rise to levels not seen since July 2009-coming as a debt crisis cascades through Europe and reverberates around the globe-has spurred concerns that banks will tighten up lending just as the global economy was showing signs of a sustainable recovery.
"You have to look at the direction much more than you have to look at the actual nominal level," says Michael Pento, chief market strategist at Delta Global Advisors in Parsippany, NJ. "The direction is telling you where the economy is heading. It's very bad."
Obama = Failure. 1 term mistake.
ReplyDeleteIf the LIBOR returns to July 2009 levels, we will be forced to walk away from our home. It's already severely underwater, so a doubling, or tripling of the mortgage payment will be nail in the proverbial coffin.
ReplyDeleteObama = planned failure
ReplyDeleteHe may likely be just the person to take the blame and be paid for doing it.
I doubt Obama makes any decisions. He is just a puppet that cannot even make a speech without a teleprompter. Hard to believe people were fooled by him.
Of course any other person who could have become president would have also been a planned failure. Does not matter if they are democrat or republican.
It appears that the Debt system is also a Ponzi scheme that is imploding due to its inherent greed.
Yes, he is just a sock puppet, but a brilliant move by the Oligarchs at the time of his election.
ReplyDeleteThey had their puppet make all sorts of promises, to stop the empire expansion, useless wars etc, then renege on them all.
They can't even accept the hindsight fact that B.O. was put in office by Goldman Sachs.
Now, all those that pledged their loyalty to the latest puppet have too much pride to admit they were suckered.
Our fake political system is tailor made for the Oligarch families' manipulations.
B.O. decides NOTHING. Just as much power as any other sock.
"B.O. decides NOTHING. Just as much power as any other sock."
ReplyDeleteYes, and this fact should be made painfully obvious by his utter and inexplicable inaction during the Gulf Oil Crisis. He has apparently been told to sit on his hands while BP deals with this in the cheapest way possible, US environment be damned. You would think, after 30+ days, a US President would have done SOMETHING to demonstrate even a modicum of concern, some form of concrete action, even if only symbolic.
Well at least he is now scheduling a Gulf photo op on his way to his vacation in Chicago. I imagine he'll squeeze in a round of golf while he's there too.
9:47 AM...........
ReplyDeleteThis is going viral regarding Gulf Oil spill. Watch the whole thing.
http://link.brightcove.com/services/player/bcpid1520929307?bctid=87314616001
People were dumb who voted for Obama. Their brains could be reconciled however, if now they finally see what idiots they were being.
ReplyDeleteAnyone who still likes Obama must have some kind of mental problem. The schizophrenic types in the New Age (some) have this thing where this lady channeled an entity saying it was Metatron and that Obama is a hyper-dimensional angel. It circulated fast and was gobbled up by them without question during his election. Go look it up if you want to laugh; "The hyper-dimensional election of Obama."
The other kind who could possibly still like Obama outside of retard professors and their brain dead students, and of course hardcore communists, are those getting back from vacation from Australia or Belgium. If they've been gone since the election and come back to see how Obama did, they should be in shock how horrible of a president this man is.
This man will go down in history as not only the worst president in history; who allowed the USA to be destroyed and actually helped it happen faster, but he'll go down as one of the worst rulers ever alongside other doofs who fucked their people like Montezuma, Nero, and Hitler.