Protege, Uncle Alan spoke today and the market rallied. I think he is dreaming>>
The markets got a late-day boost from Greenspan, who told an economic conference in London he was confident that jobs lost during the recent recession could be replaced. He also warned U.S. policy-makers against putting up protectionist trade barriers, saying it could be bad for the global economy.
"I think Mr. Greenspan has given us some hope," said Peter Cardillo, president and chief strategist of Global Partner Securities Inc. "He's confident there will be creation of new jobs and that was what the market wanted to hear."
Yep, key word, wanted to hear....
The reality is $8-$25 an hour manufacturing jobs here in the US are being outsourced to Mexico for 1.25 an hour,
and to China for .24 an hour, and on top of that no
social security (fica) match, no health care expense to worry about, etc etc...
These jobs ain't coming back..
Good for profits in short term, but when the music stops...
Anyway, as I have said more than once the past few months,
you can't fight the FED... |
