Occasionally my posts here get onto Seeking Alpha. That leads me to reading comments here and at Seeking Alpha. Not a problem as I do learn from comments, once in a while, and some I find amusing. Here is one from Seeking Alpha that I agree with from PrudentMan:

"Virtually all previous recessions were cause by high inventories as was the tech bubble of 2000. The Y2K demand wasn't there. This recession is more like 1929 as it is the result of too much credit. The difference, of course, is that technology has created the ability for credit to expand out of hand worldwide. We could say "we told you so" but, as we know, that will fall on deaf ears. So until people will learn that in economic terms they are only worth what they produce, we will maintain the unfortunate status quo. The fact is that the pie was made bigger by credit and is now reverting to reality. Unfortunately, most don't like reality and are creating more problems by fighting it. That is the result of a populace who believes they are entitled to consume but not required to produce. Welcome to the real world that we Depression Babies learned about at an early age and, consequently, can sit on the sidelines and listen to the whiners cry. You can't cure an illness or addiction until you admit you have one. The quicker the admission the quicker the cure and, unfortunately, we are not there yet and we will probably overshoot like a smoker who quit. "

Sage words. Thanks PrudentMan.

I plan on posting more tomorrow but I am tired right now, as is the news I am reading, so hopefully there is more in the morn.

Disclosures: None