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wall st and main st ignoring Washington

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Post by truthbetold Sat Mar 09, 2013 3:16 pm

stock market rises continuously. job creation keeps on improving. housing is limping back to normalcy. retail shows positive activity. usa is back to being the economic engine of the world.
the wolf cries about sequestration, dire warnings of impending debt crises, budgets, ceilings etc. all are ignored. bernanke seems to have won. leftist and righties need to figure out where the people are.

truthbetold

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Join date : 2011-06-07

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Post by confuzzled dude Sun Mar 10, 2013 12:10 am

Effects of sequestration won't be seen for a few more weeks, again, first year cuts are around 3% so not sure of the immediate impact.

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Post by truthbetold Sun Mar 10, 2013 12:56 am

3% cut actually means 9 to 12% in discretionary spending in some departments.
Wall st is aware of the impending cuts but shrugged it off saying we are not worried.
Main street is hiring. I doubt if sequestration is going cause economy to gointo recession.

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