Soap:
Do you follow OLBG?
Are you concerned about the current, record high, unsustainable P/E ratio of the S&P 500? Do you believe we are in a new bull market or that we are experiencing a suckers' rally? I want to remain objective, but can't help having a bear market rally opinion. Either E has to improve dramatically, P has to fall, or some combination. Considering rising umemployment, tight credit and increased personal savings rates, what will fuel earnings? The government's printing presses will only steal purchasing power from our savings - it's not real economic growth. Am I missing something? What will keep the market from falling to much lower levels?
Thanks.
