An article on seeking alpha written by Edward Harrison that made a lot of sense to me:
By Daniel at 8 October, 2009, 2:26 pm
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Read it and see if it helps explain it for you as well.
it starts off with this intro and goes from there.
“For the last few months I have been casting around looking for bullish data points as counterfactuals to my more bearish long-term outlook. I have found some, but not enough. If you recall, early this year, I stated that we are in depression, making the case for the ongoing downturn as a depression with a small ‘d.’ Nevertheless, I was quite optimistic about the ability of policymakers to engineer a fake recovery predicated on stimulus and asset price reflation and I certainly saw this as bullish for financial shares if not the broader stock market. But, I saw these events as temporary salves for a deeper structural problem.”
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