If we’re right, households have just begun reducing their debt loads. It will take years for the leverage in the system to be wound down. See Bill’s comments about that below. If you’re buying bank stocks you’re assuming credit and debt growth will resume once this recession is over. That’s a big assumption. And probably stupid.
August 12th, 2009 | Dan Denning | 4 comments | Continued
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| All Ordinaries | 4322.300 | ||
| S&p/asx 200 | 4246.000 | ||
| China Shanghai Co | 2348.642 | ||
| Gold Sep 11 | 0.00 | ||
| Clj11.nym | 0.00 | ||
| Nikkei 225 | 8985.79 | ||
| Indu | 0.00 | ||
| S&P 500 | 1351.77 | ||
| Ftse 100 | 5905.70 |
