Bluefield Daily Telegraph, Bluefield, WV

Sister Newspapers' Blogs

September 12, 2012

September set to be another bumpy ride


Every day as the world crumbles, the same corrupted names come to the top of the list. Again and again, the fines are levied, the wrists are slapped and business continues as usual. From Goldman Sachs to Morgan Stanley and from J.P. Morgan to Bank of America, it’s always the same.

As so now we arrive in September. After an August that may go down in history as one of near terminal boredom, the fireworks are about to go off again.

Governments and central banks have pushed many decisions off to this month with hints and promises through the summer of being ready to come to the rescue if needed.

Fed Chairman Bernanke did so again recently, but increased the level of assurances enough so expectations are high for action from its Federal Open Market Committee meeting this month. Economic reports in the eurozone continue to weaken, putting still more pressure on officials to act. Moody’s has put the European Union’s triple-A credit rating on a negative outlook. The number of unemployed workers has surged to a record 18 million, or 11.3 percent, and both consumer and business confidence is at a three-year low.

Officials are back from their vacations and this is the month of various meetings in Europe that are also supposed to finally come up with meaningful solutions.

But European stock markets are uncertain and still waiting. Unknown is what kind of fiscal agreements Spain and others will have to agree to in order to have access to the program. Spain has said it will not take the required next step of requesting a bailout until it knows the details of what will be involved.

Will central banks end the summer’s uncertainties with positive actions that will disrupt the history of September being rough on investors? We’ll soon know.


Nick Massey is a financial columnist for The Edmond (Okla.) Sun.

Text Only
Sister Newspapers' Blogs
Bill Archer
AP Video
Courts Conflicted Over Healthcare Law Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Raw: Lawmakers Scuffle in Ukraine's Parliament Raw: Israel Hits Gaza Targets, Destroys Mosques New Orleans Plans to Recycle Cigarette Butts Raw: MH17 Passenger Remains in Kharkiv, Ukraine Diplomatic Push Intensifies to End War in Gaza Michigan Plant's Goal: Flower and Die Crash Victims' Remains Reach Ukraine-held City Holder Urges Bipartisanship on Immigration Raw: Israel Bombs Multiple Targets in Gaza Obama Signs Workforce Training Law Cat Fans Lap Up Feline Film Festival Foxx Cites Washington 'Circus Mirror' Judge Ponders Overturning Colo. Gay Marriage Ban Police Probing Brooklyn Bridge Flag Switch Raw: Cargo Craft Undocks From Space Station Raw: Texas Gov. Rick Perry Visits Iowa US Official: Most Migrant Children to Be Removed
Greg Jordan