I think it's time for people to realize that most of the discussion about a long term recession etc is actually false. It's time for people to go long in equities seriously.
The reason I think this is that there seems to be a very big influence of the SWFs' strategy on market movements worldwide.
The SWFs according to the WSJ's reports this weekend, are going long in US banking stocks.
http://www.zawya.com/Story.cfm/sidZW20081018000005/WSJ(10%2F17)%20Mideast,%20China%20Return%20From%20Sidelines/
Earlier the SWFs were long in commodity futures and the rising price of oil was totally disconnected with the underlying physical demand and supply of oil.
Now that equity prices have fallen quite a lot, SWFs are going long on them. By Christmas most people would have forgotten all about the 'Return to the Great Depression' argument and the markets should be much further up by then from where they are today.
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