In some respects this "recession" has been very much more like the Great Depression than a typical recession. It's therefore worthwhile, I think, to compare the recovery out of the Depression to learn how long this one might take. I'm thinking 10 years minimum to get back to pre-crash levels. Thoughts?
When you say Pre-crash, you mean around $15 with a 10% Yield?
Even I am having a tough time of being bullish this week.
I don't think we ever see $15 again. I do see $8 and maybe $10 in the next couple of years, but it depends on how contagious this euro fiasco becomes.
I am hoping that out of the smoke, US assets as a whole will be seen as the most safe, and thus maintain and gain in value. All bets are off again until that realization is made. Our cities and States need to WAKE UP now and control their budgets and slash the their debts.
Our biggest expenditure (waste of money) is the one everyone's afraid to talk about: defense.
We spend 4.7% of GDP on defense, almost 1 trillion dollars each year! Our defense spending on any basis is greater than that of all of the rest of the world's countries--combined! Nine times greater than what China spends.
The industrial military complex is a reality, and it must be stopped.
People bitch and moan about expenditures that help the welfare of the people--like health. They say nothing (and know nothing) about the out-of-control defense expenditures.