article in fin review today, page-28

MM; fair enough, though I completely disagree re. QE and the like. I believe that QE can work, though the time frame may be 10 years or so at a guess. The other options are rather unpalatable IMHO.

Regarding SEA sp; yes, much lower is possible if markets reverse. As to whether we are in for another leg down, who knows... I am neither bull nor bear, and the only thing I'm calling is XAO 5000 if DJI somehow keeps managing to remain above 12,000 this year. Downside-wise, we shouldn't fall below mid-3000's until DJI drops to <9,500 IMO. Our market is cheap, providing EU-UK-USA situation doesn't cascade.

In closing, I can sense that you've done a fair bit of reading and thinking and have come to the realisation (as I have) that things aren't quite right (to put it mildly). I had leading indicator data well before the downturn started (hence why I was posting about big falls back then). I currently have no reliable data, since the political decisions are driving markets right now. I am however optimistic that entities can inflate their way out of debt...one way or another, hence why I'm holding stock. There will be a time that keeping funds in safe havens will look silly, and there will be a rush to the entries to markets. I just hope (for my sake) that this isn't too far away. Good luck.