Lots Of Bad News Today: Europe, Asia, Jobs ... All Bad

So much for TGIF: all economic reports today were either disappointing or just plain bad.

First, people in Spain are taking their money out of local banks and putting them overseas. It’s similar to what the Greeks did a couple weeks ago - or was it a month? Either way, it’s not good.

Spaniards and Greeks just don’t feel safe about their money in local banks. It’s beginning to feel like a domino effect. First, Greece, then Spain, and Italy is looming. Hopefully, that won’t happen.

At least, from recent polls, it seems like the political party favoring the Greece bailout will win the upcoming election. That’ll probably calm people down a bit.

Second, China and India are slowing down. It’s just a matter of time before the global recession hits them. They can’t continue to grow at the blistering pace forever.

And then there’s the weak U.S. jobs report, with only 69,000 jobs added in May and unemployment going up slightly to 8.2 percent.

Overall, not a good day for the global economy or Barack Obama.

Sections:  business   
Topics:  asia   bric   china   economy   europe   europe debt crisis   global economy   greece   india   jobs   spain   unemployment   
  • 2012 Election: Whew! That Was A Close One
    It was supposed to be a close race, but if you had been following Nate Silver’s 538 blog on The New York Times, then it wasn’t. Within days of the election, it showed Barack Obama with a probability of about 91% to beat Mitt Romney -- based mostly on state polls and the electoral college, not the national polls or the popular vote, although both of the latter are included in his algorithm. Even with that stat behind me, I was still concerned because there was still about a nine percent chance that Romney would become president, and you know the saying - shit happens. More
  • Wrapping Up The Presidential Debates
    Yes, the third presidential debate between Barack Obama and Mitt Romney on foreign policy was, unsurprisingly, boring, but at least it was good boring -- for a Democrat, that is. It was only surprisingly boring if you bought into the pre-debate hype generated by the media, which pointed to this as a make-or-break moment for both candidates. More
  • Second Debate's Impact on Polls
    So far, Barack Obama’s victorious outing in the second presidential debate against Mitt Romney isn’t showing much of a bounce in the national or state polls. If there’s any bounce, it’s very slight in Obama’s favor. It does appear to have halted Romney’s momentum though. More
  • Great Comeback for Barack Obama in Second Debate
    Like the vice presidential debate, I was afraid to watch -- afraid that Barack Obama would just be too nice of a guy to get into a brawl with Mitt Romney in the second presidential debate. More
  • Joe Biden Over Delivered in Debate Against Paul Ryan
    I had low expectations. After Barack Obama’s disappointing and deflating debate performance last week, there’s a lot of pressure for Joe Biden to deliver. That’s scary because the guy’s been known as a gaffe machine. And you never know how people perform under pressure. At the get go, I thought Biden delivered big time. More


Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News