Dollar Falls as Obama Win Paves Way for Monetary Easing
The dollar declined on speculation Barack Obama’s re-election as president will boost chances the U.S. will maintain monetary stimulus policies that tend to weaken the greenback. The U.S. currency fell versus 12 of its 16 major peers as Obama defeated Republican challenger Mitt Romney, who disagreed with current Federal Reserve policy. Obama now faces the so- called fiscal cliff, $600 billion in tax increases and spending cuts due to be implemented in 2013. Australia’s dollar rose for a third day as stocks rallied, boosting demand for higher- yielding assets. The euro pared earlier gains as the Greek parliament prepared to vote on austerity measures.
How Many Businesses Have Announced Closings or Layoffs Since Obama Won A Second Term?
Do elections have consequences? If you have been paying attention to the financial markets, you might think so. Wall Street has had two horrible days since President Obama won a second term. However, stock prices are not the only thing taking a hit. It appears that the job market is also suffering. In the last 48 hours,…major corporations have announced layoffs in America…
Obama Won, So I Fired 22 Employees
“I explained to them a month ago that if Obama gets in office that the regulations for Obamacare are gonna hurt our business, and I’m gonna have to make provisions to make sure I have enough money to cover the payroll taxes, the additional health care I’m gonna have to do, and I explained that to them and I said you do what you feel like in your heart you need to do, but I’m just letting you know as a warning this is things I have to think of as a business owner.
Greg Mannarino: Here Comes the Equities Crash As Obama Re-Elected- DOW 4,000 Possible
With the looming fiscal cliff, massive tax increasing set for 2013, the Fed preparing to take QE supernova, Mannarino states a major market sell-off and financial collapse is coming in which many people will LOSE EVERYTHING! Mannarino believes that the coming crash will be so intense that the DOW could potentially hit 4,000!