http://www.bizjournals.com/houston/stories/2008/07/21/daily14.html
How the hell is the economy still chugging along?
How the hell is the economy still chugging along?
10,750 job cuts @ WB
- Thread starter The Kin
- Start date
Dont let this rally fool you, job losses will continue to mount pushing unemployment rates near 6% by the end of the 3rd quarter. There are tens of thousands of jobs being lost in this sector every month.
The economy is not "chugging" along. Its barely getting by, GDP will be negative sooner than you think.
How is WB's stock surging even though they barely beat estimates, and when they are only claiming losses on write-downs on loans that they have recieved zero payment on over the last 180 days instead of 120 days, as they have done in the past.
Does this rally seem ridiculous to anyone else?
Does this rally seem ridiculous to anyone else?
Wall Street sees the glass half full... "It could have been worse".
