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发帖数: 310 | 1 Xie Guozhong said,
The stock market rally we are seeing is a bear market rally. As I wrote at
the beginning of 2009, a credible bank rescue plan would start a bear market
rally. It won’t last. The reduction of leverage after a credit bubble
bursts takes a long time, which prevents a vigorous economic recovery. The
current bear market that began in the fall of 2007 would last at least three
years. It could be longer than five years. Even after leverage is
normalized, the global economy still need |
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