THE UNWINDING AND DELEVERAGING OF THE ECONOMY

ALBERT EDWARDS "CREDIT CRUNCH IS NOT RECEDING" If haven't, worth a read.

For now, the massive liquidity being applied I think in an effort to reverse this unwinding can only delay it....that said, the rise in the world stock markets is where it all seems to be going....not a bad thing if you're long and had missed most of last 2 bears.....not too many can say that.

Not everyone thinks we need a 'TEST" of a bottom, and the PE and DIV yields in 2002 being more like top (as is now) did not stop a great cyclical bull into 2007.

This merry-go-round is not going to stop up and down, until we do deal with the delevergaing and an answer is not to try an lever up again...or prop up...there's no running away from this cyclone.

Duratek