Larry's Blog
Super Committee’s Failure Blamed for Falling Stock Prices Today
November 21, 2011
No deal was struck by the Super Committee on deficit reduction, as Republicans wouldn’t budge on their refusal to lift taxes and Democrats dug in their heels against gutting entitlement spending. Equity prices fell in response as they had during the summer deficit battles that resulted in S&P’s downgrading of America’s credit rating to AA+. […] More
New Overnight Developments Abroad - Daily Update
Debt Concerns Intensify
November 21, 2011
Investors began this week is a risk-off mood, fanned by An expected admission from the U.S. congressional super-committee of failure to strike a budget cutting deal, which will trigger automatic across-the-board reductions and a possible additional U.S. credit rating downgrade. A warning from NYU Professor Roubini that an Italian debt restructuring will be unavoidable. The […] More
