Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: carranza2 who wrote (71239)	4/3/2009 5:12:50 PM
From: Maurice Winn	3 Recommendations Read Replies (1) of 74559

Ooops, FAZ was a bit of a fizz = $19 down to $15 ouch. SKF taking a plunge down to lows too. It seems the financial crisis must be over and it's business as usual now that the G20 bosses have saved the world by meeting each other and talking about spending $1 trillion or so. But is it? Unemployment is bounding up as people en masse are redeployed from silly occupations such as making SUVs, serving $10 exotic coffee in exotic locales, making mansions for people with low incomes, and generally servicing luxury spending. Sales and rentals of executive jets are down as executives travel on public transport. But there aren't a lot of jobs in the essential industries where people are spending money. And it's not as though money is just stacking up somewhere waiting to be spent because there's a huge deleveraging going on as fractional reserve deposits are unwound and banks confront debilitated balance sheets and loss of business and profits. Mqurice

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