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Sunday, August 28, 2011

Biden says U.S. needs more stimulus, business mad at S&P

QE(n) versus austerity. Either way, standard of livings across America will continue to decrease. No amount of political debate/action will change this fact. Astute readers of the market are beginning to see this message.

Headline: Biden says U.S. needs more stimulus, business mad at S&P

ON BOARD AIR FORCE TWO (Reuters) - Vice President Joe Biden said on Friday the U.S. economy needed more stimulus to get it moving, putting in a plug for government intervention shortly before the White House unveils new proposals to boost job growth.

At the end of a trip to Asia, Biden said a final decision had not been made on whether Washington would sell Lockheed Martin F-16 fighter jets to Taiwan and noted Beijing knew America viewed its one-child policy as "abhorrent."

Biden made political waves back in the United States when he said in a speech in China that he was not second-guessing the country's restrictions on parents having just one child.

Republican presidential candidates pounced.

After roughly ten days abroad in China, Mongolia and Japan, the vice president is likely to turn his attention to domestic policy as the White House prepares a major new initiative to boost job growth.

Source: finance.yahoo.com

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