patio

Valuations Alone Don't End Bear Markets

"the good news is that Obama's $900 billion (or whatever the final sum is) fiscal spending package combined with another spending plan to follow in 2010 - will eventually arrest deflation as the economy begins to bottom. But I don't think we're there just yet."

Many estimate total wealth loss by mid-year 2009 to hit around $15T. That is in the US alone, doesn't take into account global losses. Unemployment will still be in the mid-teens ( true unemployment ); credit will be available to only those that can actually afford more debt.
The stimulus package, even if were 100% effective, is a drop in the bucket.But of course it's not, its a ridiculous vote-buying porkulus.
The boomers will never upsize again in their lives, they will be savers until death; they really have no choice now.
So anyone searching for bottoms, or return to "normal", whatever the hell that is, have a long long wait.