Thursday, August 18, 2011

Economy Report - August 18, 2011 - Paul Buzby


Consumer prices rose by the most since March
Temporary.

Leading indicators rise 0.5 percent in July
Temporary.

Home sales dropped 3.5 pct. in July, hit 2011 low
One more round of foreclosures from public employees being fired (federal, state, county and city).

Gold hits latest record high, near $1,830
Federal Reserve statement not to raise interest rates till 2013 and congress kicking the debt problem down the road.

More people sought unemployment benefits
One more round of foreclosures from public employees being fired (federal, state, county and city).

Here we go again: Stocks plunge on economic fear
Europe crises bleeding into U.S. stock market, not U.S. private businesses (70% GDP).

Car dealers fear economy could scare off buyers
Anti Business policies by Washington and Federal Reserve cause uncertainty.

Oil drops on disappointing economic news
Summer oil spike is coming to an end. Oil will drop more.

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