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And the whole market is up?

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August 15, 2008 – Comments (3)

From the WSJ:

Global Economic Picture DarkensThe world economy is slowing significantly after months of resilience in the face of U.S. weakness. Four of the world's five largest economies -- the U.S., the euro zone, Japan and the U.K. -- are now flirting with recession. Hong Kong's economy showed its first quarter-to quarter decline in five years.

3 Comments – Post Your Own

#1) On August 15, 2008 at 1:23 PM, dinodelaurentis (71.70) wrote:

i've been wondering... oil pipelines and oil wells shut down on 2 continents, no replacement increase by oil producers, and imment war in a tinderbox of fragmented coutries... you know,Israel and Iran... banks declaring billions in losses and YES, the whole market is up! man, americans just LOVE the olmypics!

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#2) On August 15, 2008 at 1:31 PM, TDRH (99.70) wrote:

JCP reported a 36% decline in profit, 4% decline in same store sales and is up 4.9%?   Other retailers Kohls, TLB etc are the same.   Maybe I am missing something, but why would you invest in retailers during the beginning stages of declining consumer confidence which could make this one of the weakest Christmas seasons in recent memory.

I have never liked retail as an investment, but I certainly do not like it under these conditions.

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#3) On August 15, 2008 at 7:30 PM, nuf2bdangrus (< 20) wrote:

Market movers are short sided people who think we're in a short recession and all will be fine.  they never get out of NYC long enough to see what's really going on.

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