The Market Is Starting To Recognize Reality
 
"As we have long expected, the economy is tracing out a trajectory typical of the weak recoveries that follow balance-sheet induced recessions and credit crises caused by highly excessive debt.....In a balance sheet recession, as is happening now, the dire effects of debt deleveraging overwhelm the efforts of the government to stimulate the economy....ahead is the so-called "fiscal cliff", another conflict as we approach the debt ceiling again... We believe that the correction is only the beginning of a major downturn..."

 

                                                             .......... Comstock Funds