Market Wrap-Up for Nov.30 (JPM, BAC, GS, MRK, ABX, FDX, more)

There was lots of market trepidation once again today in regards to the European debt situation, but investors should not overlook the potential debt time-bomb that is ticking here in the U.S. Recent data I read from the Office of Management and Budget, US FY2011 White House Budget, and European Commission Eurostat highlighted some scary figures. The data revealed total US government debt as a percentage of GDP tallied 94 percent in 2010, which is not that much better than recently bailed out Greece, where debt as percentage of GDP reached 115 percent last year. I would hate to think what a U.S.-led rescue package could cost and what effect this could have on the global economic situation. This is something we are not taking our eyes off as we navigate through the daily ritual of identifying trends that can influence what companies we want to stick with on our recommended list, new names that could be added, and stocks that we prefer to head back to the the sidelines with. As the U.S. looks to tighten its belt, we are seeing proposals that could have a significant impact on what workers can expect when it comes time to retirement. The bipartisan National Commission on Fiscal Responsibility and Reform has pitched several Social Security initiatives to save the system from possible extinction, including raising the retirement age and gradually increasing the “taxable maximum” – or the maximum amount of earnings subject to Social Security payroll taxes &#…

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Market Wrap-Up for Nov.30 (JPM, BAC, GS, MRK, ABX, FDX, more)

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