I BelieveAFirs I for one always found your posts always informative both on the positive and sometimes like today not so positive ones . However you rightly point we are heading for if not already in a full scale US recesssion and the ramifications of that reality is truly GLOBAL as the credit crisis which I believe to be the biggest issue of all the bubbles you mention is really what made it a Global calamity. If banks cannot or will not honour LOC;s the business world as we know it will cease to function forget about aviation , our ATM's will stop working , credit cards will soon stop working and on and on it goes . Sounds like Armaggedon to me and will make the the 1929 Depression look like a cakewalk in comparison. If its that bad and you seem to suggest it might be even putting
whatever cash you have left under the mattress won't cut it . OK I'm being a bit dramatic or maybe not . I will take solace in one positive note you did make , we could see a .60 - $1.00 SP in a couple of years . My last point is being in the stock market no matter which index in this climate takes nerves of steel , you either believe we will
get thru this (AMA included) or you don't . In which case sell now if it makes you feel better but the tax loss will
mean little next year if your dire prediction comes true since we will all be out of work by then anyway . I continue to believe and am long AMA.
Mike