Tuesday, July 19, 2011

Economy Report:July 19, 2011 - Paul Buzby

House to vote on tea party-backed debt plan
First actual plan on paper.

Oil rises 2 pct on weak dollar, strong home starts
Fear over misrepresented possible U.S. default. No possibility of sovereign debt default (bonds, notes, treasuries).

Home building jumps in June after dismal spring
Normal summer upswing, nothing unusual.

BofA reports $9.1 billion loss in 2Q on settlement
BofA almost out from under financial losses, a little more to go.

US stocks jump on stronger earnings

AP analysis: Western states lag in recovery
More political, judicial, and public union anti business policies, regulations, laws and taxes.

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