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Pros Say: Employment Collapse is Coming
CNBC.com
Monday, Dec 29, 2008
The last week of 2008 began in the green for commodities as oil and gold prices surged following a flare up in violence in the Middle East.
The dollar was broadly lower, especially against the Swiss franc, which rose on safe-haven buying amid the fighting in Gaza.
Experts tell CNBC that further falls in the greenback and employment can be expected.
Look Out for a Collapse in Employment
The next stage in this financial crisis would be the collapse in employment, says Roger Nightingale, strategist at Pointon York. In light of this, he offers advice on how to invest.
Dollar Seen Weakening in the Longer Term
David Forrester, associate director at Barclays Capital sees the dollar weakening in the longer term. He also gives his foreign exchnage direction for 2009.
(ARTICLE CONTINUES BELOW)
Middle Eastern Stocks Look Attractive
People aren’t willing to be adventurous going into the end of the year, as most investors have already locked in their positions, Mohammed Yasin, CEO of Shuaa Securities said.
Yasin sees more Middle Eastern investment projects, especially in infrastructure, petrochemical and expansion plans for GCC oil companies, being delayed or “stretched out”.
Oil is likely to trade within the $50 to $60 range next year, Yasin predicts.
Middle Eastern stocks are the best investment bets for 2009, according to Yasin. Government-based companies are the most attractive as they will have access to liquidity and leverage going forward, he added.
Real estate in Abu Dhabi and Saudi telcos make good short-term defensive stocks, Yasin told CNBC.
2009: A Tough Year for Autos
2009 will be a “tough year” for automakers. We expect their total volumes to fall another 10% from what they are currently, Sarwant Singh from Frost & Sulivan said, adding that production and sales will increase in India, where they make low-cost cars.
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8 Responses to “Pros Say: Employment Collapse is Coming”
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December 29th, 2008 at 2:59 pm
But, won’t Obama save us all?
December 29th, 2008 at 4:56 pm
obama, obama. look at the swinging watch. obama, obama, your getting sleepy sleepy, now you are in a deep trance, change, change, belive in me belive in me, belive, I am change, sleep Americans sleep every thing is perfect, perfect, obay, obay, don’t think i’ll think for you, trust, trust, when I snap my fingers you will not remember any thing i said, untill I speak, poverty is hope, hope,
December 29th, 2008 at 5:36 pm
This is a planned collapse and not an accident of fate. Many need to plain A VERY BIG AND TOUGH AND BRUTAL CHANGE, they will not.
December 30th, 2008 at 5:49 am
When people get laid off they get time to think and read, watch the documentaries they’ve been wanting to get to but haven’t the time for and such. This is bad for you paid no-integrity brain controlled ops and your volunteer flunky sychophants because an enlightened populace whose unemployment is beginning to run out is your worst nightmare. Your only hope is to hope the masters of your masters masters decide to keep the bourgeoise busy and employed and therefore sedated with trivial concerns.
December 30th, 2008 at 5:54 am
The threefold collapse of landmark U.S. buildings was symbolic of the collapse of the domestic economy. All planned, all thought out, totally criminal, with full malicious intent.
Many very wealthy men and women will soon be stripped of their position, wealth, and illusory power. In the book of Revelation it mentions one of the signs of the end times is that the very stars will fall from the skies. Well these self proclaimed “stars” are getting ready to crash and burn. Unfortunately for them, there are no Giorgio Armani prison jumpsuits so they will just have to wear off the rack.
December 30th, 2008 at 6:30 am
BeTrue, I hope that you’re right, but I have a feeling that they’ll all get totally off the hook. Junior will pardon most of them and if all else fails, they can always leave the country with their billions that they’ve looted from the rest of us. I want to believe in justice, but the realist in me isn’t buying it.
December 30th, 2008 at 10:53 pm
Such luck for we hoi poli. These experts have never been wrong before!