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Some economic commentators and financial journalists have divined the ‘green shoots’ of economic recovery’ growing out of the present crisis. Perhaps the wish is father to the thought. Are they right? Most obviously stock exchanges in Britain and all over the world have been booming since the beginning of March. We have to be careful here. Remember there were four 20% or more rallies on the NYSE between 1929-32, when the overall trend for share prices was definitely down. These are often described as suckers’ rallies that take place in a ‘bear market’.