Re: [OPE-L] Financial stocks sink across Europe

From: Alejandro Valle Baeza (valle@SERVIDOR.UNAM.MX)
Date: Tue Jan 22 2008 - 12:58:10 EST


Jerry Levy escribió:
Not just in Europe, Alejandro.  See following story. [Today is a holiday in the US - Martin Luther King Jr. Day - so the stock markets are closed here.]

"We are all bears now" seems to be the motto de jour in  the financial markets. But, there seems to me to be a lot of hyperbole by Marxians about this: terms like "meltdown" and "crash" are being used too loosely. Isn't a recession, with perhaps stagflation, more likely than a "meltdown", "collapse", or "crash"?  Even "crisis" may be an exaggeration for a periodic downturn in a capitalist economy.

In solidarity, Jerry

Jerry, you are right Asia is in trouble too and ... the hole world.¬ If, this time, US are facing a periodic downturn or something worst is too early to define.


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