SMF PRO TRADERS UPDATE 2-9-2008
SMF update is there going to put off the announcement that started the short covering rally on Friday. Our SMF Pro Traders Index Ratio Indicator is showing we may have a pull back on the opening bell with profit taking.
As we continue to talk about the massive stimulus bill that there debating on right now as many investors and traders are not really happy with the bill.
SMF will be updating our traders on how to take advantage of the moves as we move forward.
Treasury Secretary
Timothy Geithner postponed his unveiling of the administration’s plan to shore up the financial industry as officials focus on getting approval for their separate economic stimulus plan in the Senate. SMF had clearly stated on Friday something would stop this announcement as the public is not happy with the current attempts of the biggest spending bell every in U.S. history.
“The Senate votes on Monday, and economic officials administration-wide will be working and consulting with senators throughout the day,” the Treasury said in an e-mailed statement in Washington today. “Secretary Geithner will postpone the release of the administration’s Financial Stability and Recovery Plan until Tuesday to allow for that to happen.” www.StockMarketFunding.com has clearly called this one right again long before the action heated up we clearly stated it was tainted to start with we encourage investor and traders to attend our SMF Pro Trader School in order to deal with these markets.
President Barack Obama has said the stimulus is needed to avert a deeper recession, and he wants a bill on his desk by Feb. 16. A key procedural vote on the Senate’s $780 billion measure is scheduled for tomorrow, with a final vote to take place the next day. The Senate measure must then be reconciled with an $819 billion plan the House approved last month. www.StockMarketFunding.com has the magic formulas for new traders and investors worldwide to attend our special seminars so they can learn how to adjust to all this news going forward and what it will bring in years to come and how it will affect our economy.
“There’s a desire to keep the focus right now on the economic recovery program, which is so very, very important,” Lawrence Summers, director of the National Economic Council, said on ABC’s “This Week” program today. “If there was ever a moment to transcend politics, this is that moment,” he said. www.StockMarketFunding.com has all the answers you need in order to make huge profits from these markets based on some of the biggest events coming forward, let SMF show you how to profit from all the news. You can make millions as long as you understand how to invest correctly.
Competing House and Senate versions of the measure are more than “90 percent” in agreement, Summers said separately on the “Fox News Sunday” program. “We’ve got to work through the differences, find the best bill we possibly can, and get it in place as quickly as possible to contain what is a very damaging and potentially deflationary spiral,” he said. SMF has clearly herd the same stories going back to the Tarp bill don’t be fooled by what you think might be good learn from www.StockMarketFunding.com what is good.
Increasing Credit
Summers said Geithner’s proposal will stabilize the banking system and increase the flow of credit.
“The focus is going to be on increasing the flow of credit and doing it with transparency, with accountability for those who receive support, and with a kind of consistency that, frankly, we haven’t seen so far,” he said. “There will be support for banks so that they remain stable, and are in a position to lend.” www.StockMarketFunding.com has a clear story for people around this matter sign up now and find out the details why you can.
He also told Fox that private investors may be asked to play a role in reviving ailing banks.
“With the right strategic approaches, Secretary Geithner believes that we can bring in substantial private capital, and that’s something we all ought to be able to agree on, that where we can catalyze private capital, that’s a better route to solving this problem than government resources.”
Summers didn’t rule out the administration coming back to ask for more Troubled Asset Relief Program money, saying “we’ll see what happens.”
“We’ll do what’s necessary,” he said. www.StockMarketFunding.com has herd it all sound familiar to you???
Private Capital
The first part of the TARP has so far provided almost $400 billion to more than 360 banks, including Citigroup Inc., Bank of America Corp. and Goldman Sachs Group Inc. www.StockMarketFunding.com had told everyone what a sham this was and how our tax payer dollars would be spent look at the bonuses that went out.
The stimulus package before Congress is just a part of what it will take to pull the economy out of the 14-month-old recession. The stimulus will be effective only if credit markets, currently frozen by illiquid assets clogging banks’ balance sheets, begin to function again.
A report last week showed the unemployment rate jumped to 7.6 percent in January, the highest since 1992. Companies including Macy’s Inc., Boeing Co. and PNC Financial Services Group Inc. have announced thousands of job cuts in the last couple of weeks.
Economic Contraction
The world’s largest economy entered a recession in December 2007, according to the National Bureau of Economic Research in Cambridge, Massachusetts. Gross domestic product contracted at a 3.8 percent annual rate in the fourth quarter, the most since 1982. www.StockMarketFunding.com estimates the number more around 5.1 percent as the numbers have not been worked correctly.
“The economy lost 600,000 jobs just in January, lost 3 million jobs last year,” Summers said on Fox. “We’ve got to give this economy some help.”
Senator Chuck Schumer, a Democrat from New York, today predicted lawmakers will meet Obama’s Feb. 16 deadline.
“We will have a bill by the end of this week,” he said on CNN’s “State of the Union” program. Schumer, the No. 3 Democrat in the Senate, also said he anticipates the final cost of the bill will be about $820 billion.
www.StockMarketFunding.com has said before it started look into who is really writing the bill and are we just going to get stuck down the road again and what about the supper high way to inflation 2 year down the road.
The Senate agreement pared $20 billion for school construction, $2 billion to expand broadband access in rural areas, $3.5 billion to make federal buildings more energy efficient and $200 million for NASA. It also reduced a proposed subsidy that would allow the jobless to buy health insurance through their former employers.
No Earmarks www.StockMarketFunding.com has a much clearly picture for all people to understand. Do you understand it???
Transportation Secretary Ray LaHood, one of three Republicans Obama has selected for his Cabinet, said the stimulus package won’t include any “earmarks,” or money required to be spent on specified congressional pet projects.
“There aren’t going to be any earmarks and there aren’t going to be any boondoggles,” LaHood said on CNN.
LaHood so far has failed in his efforts to help persuade his former Republican colleagues to support the measure. House Republicans voted unanimously against the plan, and Senate Republicans are also balking at the size the bill.
“The bottom line is this bill, nearly $1 trillion before it’s over with, is not going to turn around our economy,” Republican Senator Richard Shelby of Alabama said on the CNN show. www.StockMarketFunding.com is telling investors and traders it could be up to 4 trillion before it is all over one day.
Obama and his staff are vying to win support from at least three Senate Republicans -- Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania. Spending and not using the right tools will not dig us out of this hole StockMarketFunding.com is clearly telling investors and traders.
Lets not forget what got the world into the mess we are in right now, we need clear transparency so all people can understand the world they are living in. Join www.StockMarketFunding.com right now and stay on top so you can plan your life correctly.
“That’s not bipartisanship,” Republican Senator John McCain of Arizona said on CBS’s “Meet the Press” today. “That’s just picking off a couple of Republican Senators.”
The head of Obama’s White House Council of Economic Advisers, Christina Romer, said the president’s highest priority was to have a plan enacted quickly. www.StockMarketFunding.com has said why not use the worst job reports in recent history to get it passed, what a deal for the world.
“The American economy is sick and by all indications getting sicker,” she said on NBC’s “Meet the Press.”
Contact www.StockMarketFunding.com now to learn more about the true story going forward and how it will affect your live for years to come you must be guided correctly, we are here for those who choose to learn and educate themselves using our SMF Pro Trader School, act now!