Do or die for Wall Street this week
After a prolonged rush of strength, where the Dow and affected markets were boosted by the Treasury Department´s shopping spree of 1 trillion in bad assets, this week has every chance of becoming a sour grape.
The Banks were again driting in like dark clouds over a pristine Wall Street sunset as the week came to a faltering close and 650.000 more jobs went sailing. This is someting we will have to learn to live with. There will never, ever, ever, more be enough jobs for everyone – unless someting cataclysmic occurs where we loose 50% of global population (or 50% of the automated production lines, power tools and factory farming equipment).
The lack of debate on the required remake on a sociological level to accomodate an army of non working citizens is nowhere to be seen. It is something that no state or government is openly discussing although the numbers are there for everyone to see. This is something that will also have an effect on the global markets later in the coming years as the economy brightens but fewer than expected are finding their way back onto the jobmarket.
Unless there is a plan and framework established that allows those who wish (or must) to NOT have a job with regained dignity, and NOT have to rely on handouts, and NOT be dismissed as loosers because they have no employment… there will be unrest. Which is bad for any economy….
Anyway, back to the here and now. The week promises to be a rollercoaster. Unless something surprising happens my bet is on a substantial down for the week total.
Related posts:
- Obama turns Wall Street reform bill into law
- Global market madness opening week
- Dow Live Report week starts wednessday
- Market week: Dow slides back without surprise
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