US is Lost and will be worse than Japan's lost decade: S&P to hit 450

This echoes yesterday's Nenner comments callling for Dow 5,000.  Extreme bearishness is not new but it is coming on the heels of bad news.   The sentiment is leaning towards decline. 

Via Market Watch:
As the market debates whether bond prices are in bubble territory, Societe Generale's London-based strategist Albert Edwards said bond markets are at least moving to discount deflation but that sell-side strategists still say the current situation in the U.S. is unlike Japan a decade ago, when the now-third-largest economy suffered through a prolonged no-growth period.

"There is still too much hope about. Until the mantra changes from 'Equities for the long term' to 'Bonds at any price,' we will not have completed our Ice Age journey," he said in predicting the S&P 500 (SPX 1,047, -8.11, -0.77%) would tumble to 450 -- from 1,055 at the close on Wednesday.

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