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Jim,

Thanks for commenting.

What I liked about the article is that it took a broader view than usual and tried to provide a context for where we find ourselves today. How much longer the pretense can go on of stock prices being related to genuine economic activity --as opposed to mostly being supported by Fed-supplied liquidity-- is anyone's guess.

"What to do in the meanwhile?" as you point out. That's going to vary according to one's means and goals. More to practice green eye shades skills than to turn a profit, I've been poking around in preferreds while waiting for The Big Crash.

Arindam
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