I agree with him.

 

He's also among the few CEO's of large companies who's said that we're in for a lot more hurt before things get better.  A lot of the "green shoots" or other early calls on the bottom have proven to be wrong. 

 

Until I see some other fundamental changes, it will be best to be wary.

 

A few things I keep looking at, and am finally seeing hit the news has been the credit card crisis, the commercial realestate problems for smaller banks, and credit issues for commercial inventory financing.