l would broadly agree with all that you have said, but the fuel price is clearly a negative for car usage and the broader concern is that people will find they are better off to quit their jobs and go on the dole rather than commute. the gov has taken the easy option to build roads rather than public transport but the question is whether that will pay off in the long run.
l think currently everything is being valued along the lines of risk and the greed cycle is gone. its just a question of how long it will last and l have been largely watching since last August and it looks like no turn around until mid year, but who knows if the Fed might come to the rescue? in the meantime whilst there are plenty of bargains it is simply not the right time to wade in - cash is king.
LZ
CEU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
