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US market may need new bailout!

It has been revealed by no less than Ben Bernanke, chairman of the US Federal Reserve, that the current US rescue plan on the table may not be enough to pull the economy out of a period of sustained negative growth. It is not the pace of the slowdown which is alarming analysts, more the strength and depth of the slowdown which is hitting all areas of the economy.

It has been suggested that another $150 billion of aid could be voted through by Congress, on top of the $750 billion already in the pipeline. However, this new tranche of money would actually go to the people who are struggling most in the shape of food stamps and financial assistance to ensure less people are thrown out onto the streets over the coming weeks and months.

The US record to date with regard to repossessions is not good with more than 2 million homes already back under the control of the mortgage companies and ever expanding tent cities popping up all across America. It is staggering to think that we are actually seeing whole families thrown out on to the street as literally billion of dollars appears from no where to help the big financials.

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