US stocks open sharply lower on disappointing earnings and more overseas market woes

  • Article by: KEN SWEET , Associated Press
  • Updated: January 31, 2014 - 8:57 AM

NEW YORK — The U.S. stock market is opening sharply lower as investors fret over disappointing earnings and more trouble in overseas markets.

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gemie1Jan. 31, 1410:09 AM

Nope! I do not have the stomach for it! Would we do better as a nation becoming economic isolationists?

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benedict636Jan. 31, 1410:43 AM

I doubt it gemiel. There are now no good choices. It is true that "quantitive easing" has got us through, however the underlying imbalances in the world economy still exist. The Brics, were also pulled up by the easy money here and the UK especially. Now we have and are turning off the spigot. The Brics are feeling the effects first and hard. The other issue is the basket case the Eurozone is. This has been from inception a highly flawed currency union and a continuing threat to the world economy. That left the EU with far fewer options than us. The Germans have driven painful internal devaluations, throwing many into poverty with unemployment still high and severe loss in the value of earnings. The jury us still out on whether in a global economy on whether we have to have these ruinous internal devaluations to compete in a global economy. Are the Germans correct or are we and the UK who have pursued identical policies? The US and UK have recovered from the crisis spectacularly better than the Eurozone. The question is at what price? I don't think anybody knows the answer, but I think we are about to find out. I believe it is this fear at the bottom of the drive for concentration of wealth and has to some degree influenced the slow return to employment. The other huge issue is that all workers, especially in the west, where wages are higher, are increasingly in competition with machines. Machines don't purchase on Amazon. This is just starting. I believe it will trend wages down outside the tech sector and drive unemployment. I have not heard solutions for this one. Although the UK have made computer programming compulsory for all school children starting in first grade. Can you turn most of the world into techies? I certainly don't have the answer for that.

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