Business Down the Street Must Be Doing Bad

Great quote from the CEO of Manpower today on CNBC. Executive after executive has gone on television talking about how business remains strong. Clients are doing just fine, but somebody else must be having problems since the economy is supposedly lousy.

Our clients are telling us that business isn't that bad. It must be the guy down the street who has bad business.
The CEO even claims that Europe remains strong.  How is that possible?

According to him the conversations about business are vastly different than 2008 which remains our thesis. The market has priced in a 2008 scenario already even though it doesn't appear to be a possibility.

See the video below:

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