Thursday, November 03, 2011

Thursday Thrills...

So the markets got restless after Greece decided to have a referendum vote AFTER they got the bailout okay'ed by the Eurozone heads (and details of the bailout unveiled that it's not that great of a bailout anyway).

Well, the Eurozone heads then said, "you're not getting any of the bailout money until AFTER the December 4 vote."

Greece, then, decides NOT to go ahead with the referendum vote, with their prime minister saying:
"Elections as a solution, today and at this moment, would mean a much greater danger of bankruptcy and of course exit from the euro."
There you have it! Elections are a BAD thing!


Unemployment numbers aren't really that much better for last month.

The Fed keeps things steady, but lower their forecasts for 2011 through 2013.

Officials now expect the [U.S.] economy to grow by a tepid 2.5 percent to 2.9 percent next year, down from the rosier 3.3 percent to 3.7 percent they were expecting in June, with inflation muted over the forecast horizon.

They see the unemployment rate going no lower than 8.5 percent to 8.7 percent by the end of 2012, up from the more sanguine 7.8 percent to 8.2 percent range envisioned in June.

National average for 30-year mortgage interest rates fell back down to 4% (just off of it's all-time low of 3.94% one month ago).

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