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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 670.92

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Nov 7 4:00 PM EST

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To: kidl who wrote (52989)	6/29/2020 5:09:10 PM
From: Johnny Canuck	Read Replies (2) of 67751

I think it was a trend before but like many things the pandemic will accelerate the process. I still remember the refrigirator plant in the US central states that took a Federal grant to not move their plant to Mexico The rationale was that it would save jobs. I know someone mentioned the company invested most of the money in automation so the jobs are going anyway, not today but a few years down the road when the switch over is complete. No quite what was intended. I think the challenge has been that the bulk of the jobs created during the last decade was low paying, service jobs. Normally not a issue except that 70 percent of the economy is due to domestic spending. If you have half the working population unemployed and potentially a significant amount under-employed you kill 35 percent or more of the economy.

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