Doesn't this huge banking and finance system that pays out multi-million dollar bonuses to people even when they lose money actually pay for technical analysts who have a quantitative understanding of how much things are worth and can explain a target range for equities prices that is related to actual economic data? After a fifty percent drop in the value of the economy its about damn time these people stopped holding their cards to their chests and came clean about what the situation is so that the rest of us can make informed decisions.
I don't mean to agitate, but it's interesting how the public demand for honesty and realism appears to be inversely proportional to the performance of the major indexes. In 2007, when the Dow first broke 12600, I doubt many people were saying: "after a fifty percent increase in the 'value' of the economy it's about damn time these people stopped blowing smoke and come clean about what the situation is so that the rest of us can make informed decisions." And the few people who asked such questions found themselves the laughingstock of Wall Street and Main Street alike.
RE: Bear Market's Bite Could Go Deeper