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thing about your circle is that it is perfect. see the US is down because the world is down, and wall street more and more incorperates revenues and income earned elsewhere. In fact the globalization of the market's is a nice term for us reaping the benifits of others labor and brilliance, and the bull market has been powered by the extraordinary profits we have made from trade. But we have spread the wealth inefficently, and neglected the demand side of the paradigm, and there quite simply isn't the wealth to purchase all the goods required for expansion, and we, frightened of losing all our gains, are turning off the demand taps and saving our gain for a rainy day. The problem is that this compounds the situation and suddenly we carreer into reccesion. So in my opinion, the markets are turning like they should, warning us that there no demand, and that a world where a Bill Gates can accumulate more net-wealth than many nations, does not in fact work, or make any sense at all. As I have said before I don't know where the market's going to do today; what rubbish Abby's going to say or do to prop it up, or how many firms are going to announce share buy-backs to build false-confidence, but I will say that you can only do the same trick a cetain amount of times, before it gets old.... And that any rally from here will be a temporary spick, as nothing is sorted out, and we simply cannot and willnot buy enough goods to power the world. |
