Asian Markets Open Lower Amid US Recession Fears

From BBC

Steep dip as Asian markets open

Asian stock markets have opened sharply lower after the biggest drop in Chinese stocks in a decade triggered a steep slide in global markets.

Japan's TOPIX index dipped 5.04% while the country's Nikkei 225 stock index fell 693.50 points, or 3.83%.

The slips were echoed in the South Korean capital, Seoul, where the country's benchmark index fell 3.9%.

Tuesday's falls were sparked by a near-9% slide in Shanghai and comments fuelling fears of a US recession.

   It's sort of funny the way many people have been acting since the Dow Jones dropped some 416 points on Tuesday. I suspect that we will see more of the same on Wednesday while the other world markets worry about a U.S. recession being on the horizon.

   I own stocks of various companies so I have been asked quite a bit today if I was concerned with the drop. My answer? No, I'm not. I don't even think about it. What's to worry about? We have to have a correcting once in awhile and this is all that I see this as, with a few minor irritations thrown in.

   I look at this as a great buying opportunity because that's all it is,for now.
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Democrats going Nowhere Fast

Yahoo News

By ANNE FLAHERTY, Associated Press

WASHINGTON - House Democratic leaders are backing away from a plan to scale back U.S. involvement in the Iraq war by using Congress' most powerful tool — withholding money in the budget.

Instead, party officials said Tuesday, leaders are weighing a proposal that would attempt to embarrass Bush into abandoning his war strategy. Under a plan discussed behind closed doors, Democrats probably would fund President Bush's entire $93.4 billion request for war spending this year but require that any troops sent into battle that don't meet certain standards receive a presidential waiver and that Congress be notified of the shortcoming.

The compromise is an attempt to please members who want to end the war immediately by cutting funding and others who do not want to appear as though Democrats are turning their back on troops.

"I think it's a responsible approach," said Rep. Chet Edwards (voting record), D-Texas.

   So now we have our elected ' stop the war ' Democrats thinking of funding Bush's entire $93 billion war spending for this year. What next, let him keep the White House forever.

    Embarrass Bush? What planet have you idiots been on for the last six years? You can't embarrass someone with an I.Q. of nothing, he doesn't understand that sort of thing. Wake the hell up you guys and get with the program!

 

house democrat leaders, iraq war, congress, president bush, us troops