is bloomberg getting bearish here http://www.bloomberg.com/apps/news?pid=20601087&sid=a9O.8z7S8pD0&refer=home
agreed. all the contrarians should filling for bk now. It just that if the bloomies and the credit market are going that far that it doesn't seem too crazy to bet on that, maybe in a few months it will be the consensus :eek:
santelli was saying something interesting and I think hes right. Because everyone is in so much debt and has so much leverage there is very little cash to come and buy anything.
'Defaults May Beat Great Depression, Junk Bonds Say' http://www.bloomberg.com/apps/news?pid=20601087&sid=aRvI6WCvliK4&refer=home âThereâs a lot of forced selling of high-yield bonds by hedge funds owing to the need to de-lever as well as by mutual funds in response to redemptions,â Lonski said. âYouâre looking at a market where the sellers well outnumber the buyers and the reluctance on the part of buyers makes sense if only because a bottom for economic activity is not yet in sight.â the forced selling could create its own reality