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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (203)	3/5/2009 2:48:22 PM
From: tejek	Read Replies (1) \| Respond to of 1428

No. We're not having a depression. Man, I think it's likely that we are. Hope to hell I'm wrong. I don't think we are.....its just been a long time we've been in such a bad recession. One of the traders on TSCM found this trading diary from 1974 in which the financial metrics of the day were listed. Things were at least as bad back then and in many cases, worse......AND people back then were talking about the next great depression. Sound familiar? There are signs everywhere that things are not as bad as the media says. For an example, last friday, I met friends for dinner in a neighborhood I rarely visit. Just north of downtown I noticed that they had just broken ground for three more building in a biotech park. Huh? If you listen to the media, nothing is getting financed...nothing getting built so how the hell did these guys get financing for three more spec buildings? That's the anecdotal stuff I see all the time. Then there is the more factual observations......we heard repeatedly this AM that GM may go under like its new news but did we hear that unemployment came in lower than expected; that factory orders went down less than expected; that comps for WMT and some other retailers were up? Yesterday, did you know that housing sales were up in the West.....I caught that in only one article......the rest said basically that sales were down nationwide. You had to dig to find out this info. Everything is way too negative and its feeding on itself. I am sick of it.