Everyone (at least quite a lot of folks) are looking towards the possible fed rate cut on tuesday. There are tell-tale signs that the recession is already underway in some sectors of the industry and affecting the vulnerable sections of the economy.
There are talks of more lay-offs in the mortgage and financial sector... Other sectors (notably IT/software) too have started cutting the costs and tightening the budget. There is growing unemployment in the economy - supposed to be at the levels of 2003!
etc etc...
But, you know - When the going gets tough, the tough gets going!!
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