Why SP operating earnings for 2009 are 90$ per share ?
Why markets " HOPE" that EM will not have a hard landing ?
Why, why, why... The resilence to see the reality amazes me. The credit markets continue very tied. Companies can not get loans. Banks are scared to death, even after all the bailouts.
Interbank lending is milles away from passed years, etc,etc,etc...
Let´s stop HOPING. Let´s asses the reality and price it.
That´s the painful way but the only way.
WIZ
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