Everyone compares and compares to death with the crash of '29 and you hear analyst after analyst saying that the fall has been overdone. Know what, don't listen to these guys, they know just as much as you do.
Remember, you are the consumer and you drive consumption. I think you need to look around amongst your peers and take what they are doing as a representation of what is and will happen.
Truth is, folks are deleveraging. Everyone, from the the largest hedge funds on wall street to the man and woman on the street - we became addicted to fast money and leverage like crack addicts.
The problem with the whole quest to find the bottom, there is the wider expectation that once the "bottom" has been reached, we'll be on our merry way back to 7000 for the ASX, and 15000 for the DOW - not so.
So while our addiction for leverage has waned, the fast money addiction is still there. Once that way of thinking evaporates, then true capitulation will have been reached.
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