Bugs,
I agree with everything you say and it is pretty much in line with what I’ve been posting the last several months. However, weren’t we all saying that 2007 was going to be the year while now we seem to saying look out for 2008. The longer this thing gets dragged out the more opportunities there are for something to save the the ship. I have been predicting a 30% nominal decline from the peak on this board for nearly 1 year. While nothing in either direction would surprise, I’m not ready to say that a 30% nominal decline is in the bag anymore.
