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Wall Street new round of layoff

Marc Faber predicted it three years ago http://en.wikipedia.org/wiki/Marc_Faber#cite_note-19

Faber has been long term bearish about the American economy for a number of years and continues to be so. He concluded his June 2008 newsletter with the following mock quote:
"The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."
 
i bet the up-coming season is another fierce winter for those job seekers in finance industry. Cutting 40,000 jobs is a big deal not only for employees in boa, also for those in other finance institutions.
 

Lyosha

Psychic in Training
Marc Faber predicted it three years ago http://en.wikipedia.org/wiki/Marc_Faber#cite_note-19

Faber has been long term bearish about the American economy for a number of years and continues to be so. He concluded his June 2008 newsletter with the following mock quote:
"The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."

Hillarious!
 
Marc Faber predicted it three years ago http://en.wikipedia.org/wiki/Marc_Faber#cite_note-19

...
The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part."

Remember that Anheuser-Busch (makers of Budweiser) is now owned by the Belgians...

http://en.wikipedia.org/wiki/Anheuser-Busch

and Coors long ago sold out to the Canadians...

http://en.wikipedia.org/wiki/Coors_Brewing_Company

while Miller is now owned by the British...

http://en.wikipedia.org/wiki/SABMiller

So, that narrows Faber's list a bit...
 
i bet the up-coming season is another fierce winter for those job seekers in finance industry. Cutting 40,000 jobs is a big deal not only for employees in boa, also for those in other finance institutions.
That shows you how futile it is to time the market (job/financial or otherwise). And we just came off a record year for MFE programs with all-time high admission numbers. Interesting time ahead.
 
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