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Old 08-08-2011, 12:49 AM
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Global markets are jittery again and headed for major downward correction.

Looks like the Asian market reacting negatively to the US S & P downward rating. The futures market also being affected negatively.

Seems like Congress will have to meet to discuss additional measures to stimulate the economy and implement measures to sooth the financial markets, be it cut spending or tax reform. I think we might see an effort to raise taxes coupled with some measures to simplify the tax code and an introduction of national sales taxes.

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