I guess its all about how you "spin it" these days, and the government and media have everyone basically brainwashed into believing its nothing even remotely close to the D-word, let alone breathe the R word, and simply substitute persistently as the better R-word = "recovery."
If you repeat something often enough, perhaps in people's minds at least, it becomes "true." (Despite the fact that it ain't quite worked out that way in Japan since '89.)
It's not lost on this person though, how many people in the US currently take prescription anti-depressant medications, consume alcohol, and have many other such available "exlixirs" that allow an escape from reality. How many of them are thinking this is a depression, or actually in their own economic depression or have been. If you count it (the drug abusers or more PC the "medication" users) correctly its probably approaching something on the order of 45% of the adult population. (and lord only knows how many children)
So it goes without saying, that this possibly can't go on "forever" (the denial and such), but I think Mr. Gross does a pretty good job of summing things up, and Comstock makes some interesting points here in this commentary about debt comparisons between now and the beginning of the bull in the early '80's.
http://www.businessi...munition-2012-2
I'm not saying not to go long stocks, and with ever QE present, we know what that does to shorting. I wouldn't however off-handedly dismiss the prospect of another significant "flash crash" that could reset the whole market to a new lower plateau and trading range. Its hard to see that happening in an election year though. So maybe we have a slow and uneven grind up into November, and after that if there is some weird outcome in the elections, we do the flash crash thingy next Jan or so.
How they hold the Euro together, and keep the currency from plummeting until that time, is beyond me. But then again also, is the utter and blatant stupidity of this Fed to keep on printing or rather counterfeiting new money.
Money Never Sleeps, and producers of fake money are just plain creeps !
