John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Cactus Jack who wrote (10136)	10/2/2008 7:34:43 PM
From: John Pitera	Read Replies (3) of 33421

Hi Jack, I agree with you that the function of market cycles is to weed out the inefficient and marginal producers. And those firms that climbed into a businesses during boom times without having any core competancy in the business. This worldwide globalized recession is going to be seen as very severe regardless of what happens here. Great question, it's a thoughtful one. Ira Jersey of Credit Suisse points out that the FED shows that for the very first time since the series has been calculated in 1952, the US consumer paid down debt and delevered in the second Quarter of 2008. This is the very first time this has ever happened, in the post WWII period. All of this balance sheet destruction is really freezing credit everywhere. John

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