Spain Says Adios to Xmas as 19% Jobless Hits Spending

[Renegen]

Quote from jnorty:

I've noticed this with the greek and spain stk mkts. they bounced 60-80% off there march lows yet have corrected very little based on armageddon news. spains mkt hardly looks down off the top and greece is maybe 15-18% down. i'm really starting to believe unless the world ends mkts won't fall much. MY QUESTION IS WHY IS JAPANS MKT NOT BACK TO 40K?japan seems like a steal here

Because Japan's bubble was of epic proportions. And also because the economy hasn't grown for the last 20 years.

Take a look for example at dot com stocks, Microsoft grew their revenues like 5 times from 2000, and the stock is only half way where it was back then. Some stocks were less lucky, they've never come close to 2000 levels, and the company is still in business.