“During severe recessions the PE ratio of the market often drops below 10. The forward PE is 19 right now based on expected reported earnings. I’m not saying it will happen but in a severe bear market the S&P500 could go far under 600. That may sound incredible but it’s certainly not impossible using history as a guide.” Thomas Nogales

“The Paulsen plan was a cynical scam to extend the finance bubble and to pass it off onto the next president.”