What's been interesting to observe in the media over the last couple of months has been the cries from long-term bears, each eager to outdo the other about the extent and level of their bearishness. In general, this hyper fear from the hyper bears has been on a reasonable basis.
What we've been witnessing over the last two months has largely been without precedent for almost the last hundred years. In that context, it's reasonable to have a generally high level of fear and skepticism that things will eventually resolve themselves. This fear and skepticism