Hard To Believe That Anybody Would Own Stocks Or Mutual Funds Right Now

The ongoing de-leveraging process will probably cut in half investment grade P/E Ratios (price/earnings). Back in times when thoughts of blue skies and amber waves of grain in Kansas the P/E ratios were: average stocks 6/1; growth stocks 15 - 20 / 1. These P/E ratios are now trading considerably higher than that meaning that stocks must fall enmasse 50% or more to adjust to the times. Couple that with stock brokerage firms reducing staff and thus less stock honkers. We are in a transitional period going from FantasyLand to Reality while the government is pumping billions into the economy. I was walking down the street one day when a women tried to pick me up. Her sales pitch was that here I was retired and she was offering one last shot...