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Markets sense the plague is coming (back)

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jtuck004 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 04:31 AM
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Markets sense the plague is coming (back)
By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- In the 1947 classic novel "The Plague" by Albert Camus, a deadly epidemic shuts the town of Oran in Algeria from the outside world and leads to panic, a near collapse of institutions, order, common sense and humanity.

Ultimately, two leading and opposing trends emerge on how to respond with the issue and to sway the course of action.

On the one hand, religious and repressive judicial authorities say the plague was a long-coming, well-deserved punishment from God for the sins of the populace and the breakdown of values.

On the other side is the scientific and medical community, which tries to relieve human suffering while seeking and ultimately finding a cure. The human toll, however, has been devastating -- in large part due to human folly in opposing relief efforts.

In the same vein, as leaders of the Group of 20 nations meet in Toronto this weekend, we'll all be reminded why the outlook for jobs and global growth as well as for markets is getting darker by the minute.

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unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 07:03 AM
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1. the g20 is shaping up to be a gang of idiots giving us poison instead of medicine
governments trying to cut debt and balance budgets by restricting spending is the single most idiotic thing they could do right now.

we are in a classic recession with capital, capacity and inventory idle while demand is constrained by crushing consumer and homeowner debt. the obvious remedy is to stimulate demand by getting money in the hands of those who will spend it and pay down their debts and return to normal functioning.

but no, the powers that be, especially in europe but the disease is catching, want to restrict government spending and compound the problems for the consumers. the inevitable consequence will be more bankruptcies, more defaults, less demand, more people on the dole, and a worse recession all around.

hoover, it seems, has risen.
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