If the numbers are bad now, they are only gonna get worse

Yet we're already seeing the new bull mantras that we'll have to deal with daily over the next quarter:

- But it's a high-end phenomenon, the under $1Million market is still strong!
- But Wall street is back, just look at GS!
- But the city will diversify and job losses will reverse soon!
- Thus, the real estate recovery is coming, buy now or be priced out forever!

> - But Wall street is back, just look at GS!

GS is around 140. It used to be about 240. If thats "back" and thats the best of the bunch...

> - But the city will diversify and job losses will reverse soon!

Crain's did do an article on laid off bankers... one makes dumplings, one decorates apartments. We've saved!

WS made some good money issuing boat loads of each others common stock as the bruised and battered banks raced to take advantage of a narrow window to raise capital. Now that they've succeeded in flooding the planet with more toilet tissue, suspect that game that's about over.

For some reason, just can't get too excited when I see black hole Citigroup trading for under 3 bucks/share.

Serge07 - Yeah, Citi is a mess. I am very interested to see how they chop it up and try to move forward.

The city will rebound!!!! In 2012.

The biggest mistake bulls in bubbles seem to make is that a return to reality and a recovery means a return to bubble prices....

We'll rebound, sure. Things will get better, sure. But it doesn't mean you get your bubble back.