[arete]

Hope this isn't another "black helicopters" anti-Fed thing.

One out of two isn't bad. Not a word about helicopters. If you haven't read the GURU before, you're in for a treat.

Richard W.

[meenie]

The S & P and DOW has to fall 50% to get to a reasonable p/e ratio. While this process is going on earnings keep deteriorating. This means that the 50% that needs to fall to get to a reasonable p/e ratio now needs to fall further due to the lowered earnings. Kind of like a dog chasing its own tail. Where does it all end? In past history, it ends when the population becomes disenchanted with the whole process and begins bartering for their needs and ignores the influx of worthless script produced by the printing press.