Friday, November 25, 2011
After a long, six-month decline, American stock markets have set another dubious record:
U.S. stocks fell, capping the worst Thanksgiving-week drop since 1932 in the Standard & Poor’s 500 Index, as S&P cut Belgium’s rating and a report said Greece is demanding private investors accept larger losses on their debt.
It feels at least that bad.
OT - but not really, I discovered a link to an interesting forecast on America's manufacturing future. Contrary to the usual gloom and doom about the Chinese eating our lunch on the way to taking over the world, this piece says that America is already becoming more competitive with China and we will soon see the return of much of our now-offshored manufacturing.
US manufacturing comeback?
It seems pretty well-reasoned and I hope of course that it is right. I think this scenario is much more likely to occur if we get unnecessary government regulation and roadblocks out of the way, and do all we can to lower energy costs i. e. the Canandian Keystone oil pipeline.