Sharp45

Forecasters See A Bear Market Till Mid-2009

A 2009 bull market? Growth will never be the same without insanely-loose credit. Where will the spending for a recovery come from? People are tightening their belts, and it's not a temporary thing. Our lifestyles have to change, and it's gonna be ugly combined with all the other factors (like $51 trillion in unfunded government liabilities).

If recovery means getting back to 2007 highs, that seems unlikely in the next 5 years, maybe 15. Stimulus packages and bailouts may allow the pipe-dream to continue a little longer. But confidence is broken, corporate responsibility is out the window.