Just posted under the DJIA thread something that this writer and all others failed to realise when comparing the current market with 1929-33. That fact is that US GDP halved over those four years whereas US GDP is only forecast to contract on average 1-3% in 2009. For US GDP to contract by 50% it would have to drop by an average of 15% per year over 4 years or 20% per year over 3 years! Does anyone see this event occuring? Even the most outspoken bears have not even forecast GDP contraction above 3%. Suggest you all read the article.
