Tuesday, August 2, 2011

US Stocks: Dow Logs 8-Day Loss, S&P Negative For Year - CNBC

US Stocks: Dow Logs 8-Day Loss, S&P Negative For Year - CNBC: "Stocks sold off sharply to end at session lows Tuesday with the Dow down for an eighth straight day amid worries over an economic growth slowdown even after President Obama signed a bill to avoid a debt default."

After debt deal, economy in deeper peril - Business - Eye on the Economy - msnbc.com

After debt deal, economy in deeper peril - Business - Eye on the Economy - msnbc.com: "If the Senate Tuesday approves an 11th-hour budget deal to lift the debt ceiling, as expected, and head off a national default, forget those high-five photo ops and victorious press conferences. The spectacle of partisan bickering by a dysfunctional government will continue to weigh on consumers, investors and business for months to come."

Precious Metals: Gold Backs Off Debt-Misery Record High - CNBC

Precious Metals: Gold Backs Off Debt-Misery Record High - CNBC: "Gold backed off its ninth record high this year on Tuesday, as growing fears about the spread of the European debt crisis and the increasingly gloomy outlook for the U.S. economy fed a broad investor push into perceived safe-haven assets earlier in the session."

Putin says U.S. is parasite on global economy | Reuters

Putin says U.S. is parasite on global economy | Reuters: "Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means 'like a parasite' on the global economy and said dollar dominance was a threat to the financial markets."

Compromise Passes House: $2.4 Trillion More In Debt | RealClearPolitics

Compromise Passes House: $2.4 Trillion More In Debt | RealClearPolitics: "The debt compromise passed the House on Monday evening with a vote of 269-161.

174 Republicans and 95 Democrats voted to pass the debt ceiling increase, while 66 Republicans and 95 Democrats opposed the debt deal. Three Democrats did not vote in favor or against.

After Speaker Boehner announced that the compromise passed, cheering was audible from House members."

Debt deal: $32.4 billion per page - Washington Times

Debt deal: $32.4 billion per page - Washington Times: "The debt framework President Obama and congressional leaders reached Sunday night runs 74 pages long, and could authorize as much as $2.4 trillion in new debt — or $32.4 billion per page."

Open Letter: Why I Oppose the Debt Ceiling Compromise Rand Paul | United States Senator

Open Letter: Why I Oppose the Debt Ceiling Compromise Rand Paul | United States Senator: "To paraphrase Senator Jim DeMint: When you're speeding toward the edge of a cliff, you don't set the cruise control. You stop the car. The current deal to raise the debt ceiling doesn't stop us from going over the fiscal cliff. At best, it slows us from going over it at 80 mph to going over it at 60 mph."