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Old 09-20-2001, 12:25 AM
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Default Re: How Bad Will The Markets Get Slammed on Monday

One thing to remember is that the market was tanking anyways before the terrorism. The attacks certainly played a part in the carnage, especially in the airlines, but the market was headed south big time anyways. Businesses were slowing down travel expenditures in a big way and they are by far the bulk of the airline business. Wall Street is simply spinning this and using the terrorism as an excuse because they have had buy ratings on just about everything throughout this whole bear market. The things you have to worry about are the airlines and perhaps "destination" entertainment like Vegas or Disney theme parks. Otherwise I think life will go on even with a war...I mean if you were less inclined to buy new clothes or a new car today is it because of some terrorist attack or because you're worried about your financial situation?

I love how companies are leading their earnings warnings with how the terrorism is going to affect their bottom line as if 1) They weren't going to miss estimates had not the WTC been attacked and 2) They have all sorts of experience as to how terrorism affects the economy and their markets. Ridiculous.
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