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Stocks slide as investors’ malaise continues

August 21st, 2010 . by TexasFred
Stocks slide as investors’ malaise continues

WASHINGTON (AP) - Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out.

The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department suggests the $75 billion government effort is failing to slow the tide of foreclosures in the United States, economists say.

More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.

“The government program as currently structured is petering out. It is taking in fewer homeowners, more are dropping out and fewer people are ending up in permanent modifications,” said Mark Zandi, chief economist at Moody’s Analytics.

Full Story Here:
Stocks slide as investors’ malaise continues

Obamanomics is just peachy-keen isn’t it? :?

All the stimulus money that was spent (wasted), OUR money, hasn’t done a thing to rebound the economy. The GM (Government Motors) debacle, is just that, a debacle. Fannie and Freddie are nothing more than jokes. The Obama financial team is comprised of world class morons that believe we can SPEND our way out of this hole we’re in.

And the White House is more worried about the rumors that Obama is a damned Muslim than they are with fixing what’s wrong with America.

Today, the Dow Jones closed at 10,213.62 that’s down 57.59 from yesterday.

A spike in layoffs feeds fear of faltering recovery — “Layoffs are back, and that’s bad news for the fragile economic recovery.�? SOURCE.

Economic recovery? Under the Obama regime, those are words that just don’t belong in the same sentence!

And where is Barack Hussein Obama and family?

The Obama family is on vacation again. “Instead of politicians and polls, the Obama’s encountered pony farms and ponds. Instead of filibusters, the Vineyard offers fishing. And the only things getting hung out to dry were beach towels.�? SOURCE. On OUR dime of course.

Do you need another example of the incompetency that IS Barack Hussein Obama?

Nearly 50 percent leave Obama mortgage-aid program

NEW YORK — Stocks closed moderately lower Friday as investors’ pessimistic view of the economy deepened.

There was little reason for investors to buy. There were no reports to offset Thursday’s disappointing news that growth in the domestic economy continues to slow. The Dow Jones industrial average fell 57 points a day after falling 144. The other major indexes also fell moderately.

“We’re not seeing any significant growth prospects,” said Peter Costa, president of Empire Executions. “Why be in the market if there’s no (near-term) prospects for growth?”

Oil prices fell again on worries that future demand will wane if economic growth remains tepid. Energy stocks were among the worst performers on the day, including oil companies Chevron Corp. and ConocoPhillips.

Full Story Here:
Nearly 50 percent leave Obama mortgage-aid program

Great balls of fire! Are there any more, or better ways to point out that Obama, and his entire administration, is the biggest disaster to ever befall this nation?

Take a look America! Take a CLOSE look at Barack Hussein Obama, and NEVER forget, this is what you get when you elect a community organizer that just happens to be an anti-American socialist.

Remember America, and REMEMBER IN NOVEMBER! Clean the House and Senate!

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