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China Performs a Kind of Financial Alchemy
Dan Denning (May 19th, 2009) Writes:
Wherever we’re going, are we there yet? Nope! But we’re getting there. That is, America is sleepwalking its way into poverty. China is performing a kind of financial alchemy. And Australia finds itself subject to American-style problems, but benefitting from China’s Grand Economic Strategy.
But how about those powerful idealists on U.S. markets? Both the S&P 500 and the Dow were up nearly three percent. If you can believe it, they were led by financial stocks and retailers. Bank of America (NYSE:BAC) finished up 9.9% after Goldman Sachs (NYSE:GS) put it on its “conviction buy” list. Home hardware retailer Lowes was up 8.1% after a survey of U.S. homebuilder confidence surged.
By the way, what the hell is a “conviction buy” list? Does that mean you can only recommend stocks in which the executives have been convicted of a crime? And if it means a share you can buy with
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