Corporate Defaults, Individual Investor

For the 2nd quarter of 2009, corporate defaults were $254B compared to $102B for all of 2008. This is predicted to continue through mid 2010. And the mortgage delinquencies/foreclosures are now at 13%. With figures like these and knowing they will continue to grow, I see no logic in the stock market doing as well as it is. It is interesting to note that institutions compromise 76% of all trading. In 1950 it was only 6%. The influence of the individual investor has diminished markedly.