The problem is . . . DEBT. And Krugman's call for increased spending is definitely not the solution.
Sept. 12, 2011, 8:00 a.m. EDT
Stock futures signal heavy selling on Wall Street
Europe’s sovereign-debt crisis continues to slam stocks globally
By Simon Kennedy, MarketWatch
LONDON (MarketWatch) — U.S. stock-market futures pointed to another day of heavy selling on Wall Street Monday as Europe’s sovereign-debt crisis continued to hurt markets across the globe.
Futures on the Dow Jones Industrial Average dropped 185 points to 10,764 and those on the Standard & Poor’s 500 index were down 20.20 points at 1,132.10.
Nasdaq 100 futures dropped 32 points to 2,132.25.
Europe’s debt crisis helped drive a loss of more than 300 points for the Dow industrials on Friday, when the resignation of the European Central Bank’s top economist reignited worries about disagreements over the central bank’s purchases of Spanish and Italian debt.
Reports that Germany was preparing plans to support its banks in the event of a Greek default added to the losses.
Full story: http://www.marketwatch.com/story/stock-futures-signal-heavy-selling-on-wall-street-2011-09-12?dist=beforebell
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