http://www.nytimes.com/2010/07/11/business/11rebo…
FTA:
"Since employment bottomed out in February, New York securities firms have added nearly 2,000 jobs, a trend that is also playing out nationwide at financial companies, commodity contract traders and investment firms."
what are your opinions on the status of wall street's recovery?
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Wall Streets recovery is a mirage.
Double dip recession is here
I will answer your blanket-statement with mine:
There will be no double-dip recession.
Could you please post the article?
Thanks
Just look at what Obama's ideological daddy Roosevelt did as far as policy...now analyze the "recovery" of 1932.
Reap "benefits" to follow.
Companies have a ton of cash. Inventories are increasing, WS is hiring, the banking reform got neutered, I think things are fine.
Consumer Confidence - Worthless. Numbers tanked, but retail spending increased. Consumers are lemmings and so is their confidence. We say whenever the common folk start investing in something it is time to get out because they are last to the party yet we put confidence in their general opinion?
Unemployment numbers - I think they are shit. 1) They are understated and 2) as the economy improves more people will come back to looking therefore increasing the numbers.
Housing numbers - useless. The US consumer just got gang raped by housing, you think they will be rushing back? All time low mortgage rates, but people have no credit or are terrified about owning something which is the mother of all chains around your neck.
I am not saying this economy is rock solid, but I think a lot has stabilized and is looking better. The government has finally started at least talking about lowering the deficit. We are seeing Dems losing some power which will moderate things (not being political, just think it is better to compromise than be unilateral). Once this BP shit is taken care of and we get unemployment to drop a little things will perk up. All this doom and gloom is nuts IMO.
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