Essential Employees in the Government Growth Industry
February 8, 2010 By Leave a Comment
Bill Bonner
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February 08, 2010 11:30 AM
There was a storm raging on Wall Street too. And by the end of the day, traders, investors and speculators probably wished they had stocked more alcohol for the weekend.
The Dow was up 10 points. After being down 100 points. Gold fell $10.
Clearly we have entered the worry, fear camp, said one pro.
Unfortunately, todays action was not as clear-cut as we would like. There was no bounce back. And no further decline. Our guess is that stocks will probably trend downward for a long time. Most likely, the long-awaited at least by us! resumption of the bear market has begun. Weve had our crash. Weve had our bounce. Now, well take the long slide down to the ultimate, final, this-is-where-it-stops end.
Listening to the radio this morning, the announcer told us that only essential government employees had to report for duty this morning. We wondered if any of them really were essential. Surely, not the fellows wh...