Given the time lapse, the indexes are way down already. The real money supply is being restricted over the last year or more. The subprime mop up is clearing out a lot of the support for leverage. That and the challenge of making carry trade work to ones benefit. Thus, Magoo is wrong again and is trying the con-game he is noted for within some circles. Can't count on doing the opposite of what he implies but no need to worry on his being right. He is not! Will he follow his own advice and musings? Has he tried to set himself up in some way to benefit from the actions of the blind followers? Count on it! Will he claim being correct in 8-15 months? Will he justify being only somewhat off over this time frame ? Count on it! Will he have great new insights and predictions in 4-8 months that contradict and/or nullify current and recent pronouncements somewhat all the way to absolutely? Most definitely! Does he know if he is coming or going? May think so! Do I care? NO!!! Old Joe