M-P

Why the Dow Is Headed to 6000

I would tend to agree w/ this piece ... the savings rate is only going up, esp. w/ the unemployment picture and threat of downsizing ... the top-line picture does not look good for many firms ... you can only slim-fast your way to EPS growth for so long. I'm not sure on the 6000, but the market is over-extended and was clearly looking for anything to rally on ... the additional regs and tax hits will only slow hiring in my mind ... EMEA is clearly not well - the global picture is not great - UK, Germany, Spain, etc. have more to de-leverage and soak up - the over-capacity story is strong across the globe.