Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (20537)	6/17/2003 1:49:52 PM
From: lurqer	Read Replies (2) of 89467

we could approach 10,000 Dow perhaps the Fed could pump the Dow considerably from here Given how far we've come, it would be foolish to rule out any possibility, but there is a "mountain" of overhead supply between here and 10,000. Just saw the CEO of Manpower on the tube (CNBC). No sign of hiring yet, with service jobs going the way manufacturing jobs have already gone. Although Griffith tried to put bullish words into the CEO's mouth, the most he would say is maybe the upcoming quarter could be an inflection point, if manufacturing sees a pickup in demand. Then to (bull spin agenda) Griffith's chagrin, the CEO went on to say that if manufacturing didn't see a pickup in demand, not only would they not commence hiring in the third quarter, they would likely postpone any hiring until next year. Tis true, hiring tends to be a lagging indicator. So its value lies in confirmation rather than insight. The erosion of service jobs however, may be a harbinger. lurqer

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