Forexsig.com 5/7/2010 News

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5/7/2010 News

Obama: "Storm Is Receeding"

In a recent speech to business leaders, President Obama said "the storm is receeding", a positive message to the American people that the economy is firmly on its way to improvement & growth.

President Obama explained that the has seen significant improvements since in the past 12 months, citing that the economy was "in free fall" last year. This statement reflects a growing sentiment within the United States that the economy is in fact improving.

Efforts To Contain Oil Spill In Gulf Of Mexico Continue

The efforts to contain the oil spill in the Gulf Of Mexico are continuing, as new ideas are put forth to clean it up & contain the situation. The spill occurred when a rig that drilled down about 18,000 feet to reach oil & gas under pressure was overwhelmed, causing the oil & gas to ignite.

In order to halt spillage, a "dome" is being used to capture the oil as it comes out of the ocean floor, the is that this will prevent most of it from seeping into the open water.