Im figuring this is a bear rally similar to the 1930 rally, its stimulus is nonsense, folks simply misunderstand and underestimate this crisis, you dont fix 20 years of leverage build up with by building roads, its very inefficient spending replacement, you basically lose private sector jobs to government mal investment
unemployment will go close to 15%
we still probably have a little more bear market rally to go
the greater trouble in the US economy is still ahead of us, Alt A and Commercial RE are byond description there are probably another 3 trillion in further losses
in any case the US has lost the political will to stimulate again
the next round will be much harder down than the first
spp = price destruction!!, page-13
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