Copper prices look doomed to continue languishing over the near term. A depressed economic outlook is likely to weigh on prices even on a protracted US Dollar pullback.
are not going to be able to hire folks down the road, they are going to try to get smaller and leaner and more efficient if anything. brian go ahead, then charlie. we recently raised our recession odds from 10% to 25%, and the reason was the uncertainty about the election, obviously, and then the fiscal cliff. we are already seeing businesses hold back. they are holding back in investing, holding back in hiring. now we have not just uncertainty, we have the real impact of this fiscal cliff. and if we go over it. we are talking about dividend tax rates of over 40%, a major increase in capital gain taxes. this will affect investment and really affect the economy. this isn t just fear-mongering, this is a major economic issue. martha: let s get a quick take from you char here. i would say that meeting with the president was one of the most intellectually dishonest confabs i ve ever seen.
of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german industry has made much from the exports and those promised to be hit by the u.s. slowdown and elsewhere in the world. putting it altogether for you, and as we look at the weekend, i cannot agree more with alison, and basically what we are seeing this afternoon is market exhaustion. people have literally just have been gasping there way. there will betrayeding because of triple witching. but by and larg