Is it just me, or am I seeing the goins on today as similar to the goins on of 2002-03.
Back then deflation was the watchword...just as it is today.
Back then, they dropped rates to historically low levels...just as they have today.
Back then, every man and his dog rushed a secondary to market (lots of convertibles)...just as they are doing today.
Will the monetary and fiscal stimulus of today provide the same escape as it did back then?
There is one thought that we are caught on a counter-cyclical policy treadmill in which each time we dip into the well, we are digging a larger and larger hole for ourselves and compress the market cycle further.
Remember, the piper doesn't play for free.
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