HWG – I’m with you on this one. I think deflation has got real legs. People on this site that are saying it’s a “panic” or that things will pick-up, etc…. are not thinking through what has to happen to clean up this mess. It takes years. This is the first year of a recession and they usually have a couple years before they really capitulate. Usually about 2 or so years after the first big drop in the markets. So we got a ways to go IMO.
