Well the Gov pumped say $10T into the economy, making the future generations pay for the recent 2 decades of avarice. Net result? A minor and temporary reduction in losses in GDP.
Will bank foreclosures decrease or accelerate as the well documented increase in mortgage rate resets, and continued massive increases in unemployment go on? Convince yourself, research the mortgage rate resets that are baked in the cake...this is going to end very badly. I am not convinced it starts next week, but it does have a chance, at least in the stock market. However, after the largest mania of perhaps a millenium, why not a 61% retrace of the prior highs, why not indeed.
It seems obvious with the highest bullish percent sentiment EVER, that the masses have not learned a thing. They seem to believe that somehow this "economy" based on a house of cards and corruption is actually "resilient" thus proving how strong it is. It does pain me to watch my beloved country turn into this mess.
http://www.fdic.gov/bank/historical/bank/index.html
