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he seems to be spot on with his past assessment of the poor government oversite of financial markets (he hates Allan Greenspan) and thinks Bernanke and Paulson were just cheerleaders for the markets and pretty oblivious to what was happening with housing bubble and credit default swaps...
he is predicting positive upswing based on general euphoria and influx of govt money for a year or so--then another market sell-down when people realize the GNP and economy is just not as good as they want it to be--when earnings start to drop then people will be disillusioned there is no quick fix and try to get out before it drops...
says the emerging markets are likely to be best place to make money and in really quality blue chip stocks with market niche and deep pockets to ride out the recession...