Poker, your long term outlook for the S&P may very well be close to what unfolds, but I would attribute that to your astute understanding of macroeconomic conditions and their effect on the markets rather than a preordained EWP outcome.
I think someone here got it right, re: a possible commodity price bubble. If we are in one and if it bursts, nothing will hold this market back from roaring to new highs, but if high commodity prices are here to stay due to increased competition for limited supply from burgeoning third world economies, then we are all in for *major* changes in our lifestyles and especially our energy consumption practices. The automobile as we know it may become a museum relic.
What is maddening is that we have more than ample energy reserves within our own domain, but the Congress and environmentalists will have succeeded in driving this economy off the cliff with their restrictive legislation and proposed carbon taxes. And then they have the gall to lecture the oil company execs on the high price of gas.
Kind regards,
-CAPT J
"What would you attempt to do if you knew you could not fail?"
