I talked to a friend who works on Wall Street. He says his "firm" believes two things:
1) The US is currently in recession and will be either in recession or very very weak growth, alternating between the two, for 10 years.
2) The S&P is going to 2500 area by the end of next year.
Does this make sense to anyone? I guess it will help this piece of work go higher by then since all stocks will be going up. I know some people in China and they say the economy has been completely destroyed and are amazed this is not widely known.