Thursday, February 19, 2009

Money,Money,Quo Vadis?

drawing by marguerita
“There’s a lot of money on the sidelines, just waiting for an opportunity."
Thursday’s losses came as the Labor Department reported that continuing jobless claims neared 5 million in the week ended on Saturday, underscoring fears that the labor market has pitched into a freefall. First-time jobless claims were unchanged last week at 627,000.Unemployment has risen to 7.6 percent since the economy fell into a recession in December 2007, and economists expect that jobless rates will break 8 percent this year and go as high as 9 or 10 percent by the time the country begins to recover.
Late-Day Drop Sends Dow to a Low -

Alexandre Herchcovitch:" Things were bad at one time, and my experience is that, eventually, people will consume again. They will want to buy clothes. They will want to get back to their normal way to live.”

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