Just how bad is the current situation? How long will it last? Guido offers some stark analysis:
All previous down markets have lasted three eighths as long as the preceding up phase. This would mean the stock market will be going down till 2016 – 2017. Since stock markets usually rebound before the economy, one can assume the economy will remain weak and contract at least through 2016.
This all leads me to the title of this post. Is this the last Christmas of post WWII over consumption? Or is this a lost Christmas, and last year was the final hurrah? (GuidoWorld » The Last Christmas?)