Greek vote in favor of more austerity helps calm markets after previous day's turmoil

  • Article by: PAN PYLAS , Associated Press
  • Updated: November 8, 2012 - 4:31 AM

LONDON - Financial markets settled down Thursday after the turmoil of the previous day when concerns over the U.S. fiscal situation combined with renewed worries over the European economy to hammer stocks.

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stockminderNov. 7, 1211:40 AM

The markets are not plunging due to gridlock and the fiscal cliff. They are plunging because Obama will tax the rich, make them poorer, but then the poor will get poorer as a result. They are plunging because Obamacare will cost hospitals millions of dollars and they will have to scamble to cut expenses to pay for all the free care that will be given out. The markets are plunging because we will get four more years of the same high unemployment and economic despair. If they don't fix this fiscal cliff, we will plunge over it and end up destitute, falling into socialism.

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redkayakNov. 7, 1211:51 AM

The headline is misleading. It should say "stock market shows concern for obama's reelection."

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BilliscoolNov. 7, 1212:21 PM

Its all George Bush's fault can not work anymore, he has had four years to fix it and so far that has not happened, if he continues operating the way he has it will get worse, will he take the blame, NO!!! it will the weathers fault, it will be Europes fault, it will be the fault that Tuesday follows Monday. When Obamacare kicks in and companies that make medical products are taxed on their revenue and their profits, people will lose their jobs and it will be the company to blame because they want to make a profit. Good Luck America.

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flatstanleyNov. 7, 1212:28 PM

The markets are plummeting because Europe shot itself in the foot by the ill advise pursuit of cutting government spending via austerity measures rather than implementing stimulus measures. Austerity has driven Europe into a double dip recession, the exact fate that Republicans claimed would happen to the US if we implemented the stimulus package. It's encouraging to know that we recognized the futility of such reckless economic policies and re-elected President Barack Obama.

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xyz123qNov. 7, 1212:34 PM

How is that "Forward" working out for your retirment savings?

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xyz123qNov. 7, 1212:36 PM

Don't worry we no longer need retirement savings invested in the stock market. Obama plans on guaranting everyone an 8% return on their retirement savings.

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sarahanneNov. 7, 1212:44 PM

So Europe is planning on growing by raising taxes and decrease spending during a recession? How long before a full blown depression hits before they realize that was not the smartest move that they made?

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yomammyNov. 7, 1212:44 PM

I'm sorry...but is anyone really surprised at the markets reaction? President Obama is one of the most anti business President's that we have seen in quite some time. He hasn't a clue about how a business is run. All he cares about redistributing wealth in an attempt to buy peoples votes for the Democrat party. I'm really not too optimistic about the next 4 years.

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nomedsNov. 7, 1212:45 PM

At least we don't have to worry about huge tax cuts to the rich and huge increases in military spending along with a war with Iran. With that, we Dodged bigger problems.

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g5thistimeNov. 7, 12 1:03 PM

I will follow the masses. Where do I get my free Obama phone? How do I get all of the other "entitlements" that come with Obama being re-elected? Everybody that receives Social Security, now that is called an entitlement. Not sure about you but when I retire my employer and myself will have contributed 300k to my "entitlement". Over 40 years with interest MY money would be worth over 1 million dollars. How is that an entitlement? I am tired of working, I want everything given to me.

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