Forexpros – Soybean futures pared gains on Thursday, pulling back from a daily high as markets awaited the release of a key monthly report on U.S. and global grain supplies. Bit by bit, the real picture slowly developed and by the time 2007 was over, three things had happened, 1) the sub-prime market had nearly dried up, only a total of $200 billion in loans were made that year; mostly in the early part of 2007, 2) the recession of 2008 officially started in December 2007, and 3) our snow slide had just turned into a minor avalanche, but, it was only going to get worse, much worse.
While this titanic struggle was taking place, the Federal Reserve Chairman and President Bush were telling America everything was just fine, thank you, only a little hiccup, not to worry; and the stock market kept surging, housing prices kept falling, the number of normal mortgage loans slowed down, but not subprime loans, not quite yet; thus ended 2006.
On Nov 27, 2007, the stock market reverses on 1) news that the Fed might cut rates again, 2) Citigroup got a $7.5 billion loan from Abu Dhabi, 3) oil prices start falling as the economic crises starts sinking in with the speculators, 4) a freeze in sub-prime interest rates, 5) the last of good unemployment statistics, and 6) good business sector earnings reports.
As the squabbling between the Democrats and the conservatives turned into all out war when the conservatives drove the country to the brink of defaulting on its international debt in August 2011, and causing an actual downgrade of the United States’ credit rating in the process of their fight to balance the budget without a tax increase of any kind.
The political consultant hired by the eight existing dispensaries, Lupe Schoenberger, said that she disliked the word lobbying.” She acknowledged to BuzzFeed News that she had initially been asked to prevent the city from opening up licenses to an unlimited number of dispensaries, but said that her clients no longer agreed on how many additional dispensaries should be allowed.