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``Students can't even make one trip to McDonald's with
their monthly government stipends,'' said Boris Sedov, 53, a
hotel clerk waiting to buy dollars. ``This is not a crisis, it's
a collapse.''
The Russian crises is of course not the reason for this sell off - it
is rather a catalyst. It shows what is possible and inspires the
imagination of traders.
We started in Asia last year, now Russia, Latin America and finally
Europe and the States.
I think Amazon capitalization is now something 4 times that of the
Russian market ? This might illustrate that there is plenty of room
for an American asset adjustment.
I would love to see a total capitalisation chart of the total
American Market - if someone could send me that data I would be very
grateful.
How much capitalisation - or savings as Bruce likes to call it - did
we loose today ?
I find it very ironic that the Russian example leads the American
market. It illustrates what a further slow-down in the American
economy and a deceleration in earnings growth might do to the market
if some "non-event" like Russia can do this.
Gerrit
Gerrit Jacobsen
http://www.tickscape.com
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