I think a big economic downturn is still pretty much inevitable, and that the decline in the US dollar is more meaningful than the rise of the stock market in terms of gauging real value, but this is a nice sign and could buy us some more time. -- KM


Worries about a severe downturn in the US economy receded as better-than-expected employment data sent Wall Street stocks into record territory and London and European equities to their highest levels since the credit squeeze

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