Old Oct 25, 08, 11:54 am
Join Date: Jul 2005
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Originally Posted by chris18london View Post
I highly doubt it. I imagine demand on this route would be somewhat inelastic, or better- relatively insensitive to this crisis which will merely be deepened by sensationalism in the press, the panic-sellers, the average Joe who tightens the purse strings, but doesn't know better when people like the BBC are, as they did last night, hailing doom and gloom as if it has never happened before. If people were encouraged to carry on spending instead of cutting back, it might maybe even turn the corner. The City and the Media relish the drama too much for that, which is low.
I believe the number of layoffs on Wall Street has already exceeded 100,000, and the estimates have it capping anwhere between 100,000-250,000. That's a lot of people no longer purchasing J and F fares
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