Seriously, what is our future? We got rid of all the higher paying jobs to China, India etc...we are in massive debt, Thanks BUSH!, and have a free falling dollar. The amount of job losses yet to come here in the next few months is going to be staggering. It literally will be in the millions. Our banking system is basically worthless. Mark everything to market and Citigroup, Lehman, Merrill etc are worthless. Housing will not recover in our lifetime. The demographics of an aging population do not support 4 and 5 bedroom homes. This will be a minimum 20 year bear market. Bush and Cheney have fleeced the public of their savings with the high oil prices. Hope they are happy. They cannot take it with them. We are seriously doomed as a Country. I can see Dow re-testing post 9.11 lows around 7400 and the Nasdaq falling below 1000. The Depression has just begun.
<p>Bush and Cheney represent our political past and that is not a good story. But our political future may be even more bleak. An all hat no cattle Texas governor may be looked upon fondly after one of these idiot Washington insider Senators named Obama, Clinton or McCain take a term or two.
All those job are you say we sent overseas are all working to provide the US markets.....In a meltdown...the USA will be able to survive even if we have to close our country from any international involvment. We have food , fuel, assets, innovation, we can survive but in a much smaller economy. It is the rest of the world that will collaspe...just think if suddenly there was no military keeping the shipping lanes open or supporting international treaties...you don't think Iran or North Korea or Russia would hijack and extort this situation.
I won't argue with your insight that this is a bearish period but I think you are taking it too far into that direction at this present course of time. The equalizer will be an eventual downturn in the European housing market and hopefully a downturn in the Chinese economy, which according to recent growth reports is already happening. This should help equalize the dying dollar as long as all the chatter that has finally reached the Fed to quit relying on rate cuts and do something proactive with the government to help fix bad loan policy holds together. I thought the next rate cut Tuesday would be 1/4 point but I just heard a news flash they did an emergency cut sometime today, Sunday in the U.S. That makes sense to me, because it will give investors some time to digest it over night. I think Wall Street tomorrow will retreat another 200 points, as I really feel they were anticipating a 3/4 point cut on Tuesday. Hopefully, somewhere around 11,400 will be a bottom in the next 30-days. I'd like to see the Euro trading at about 1.43 by May and I hope that by the end of the year the Fed can get the Fed Rate up to 4.00% to equalize this commodity inflation they have brought us into with these reckless cuts. Not cutting would have only caused Wall Street to stagnate but I feel the panic cuts caused financial insecurity that did even more damage to Wall Street and real damage to commodity inflation and the devaluation of the dollar. If anyone else agrees or disagrees with my take on this, I'd like to read what you have to write about concerning this subject. Pete
Sometimes a little historical perspective can do a lot of good. 7500 would be a pullback, not a collapse.
Sultans of doom and gloom in full swing. You might want to add these few : 1/ Sky is falling 2/ Titanic is about to sink 3/ Real estate will never come ( you got that one in) 4/ We are done 5/ Its all over now 6/ We are entitled to things that we dont deserve. 7/ I need treatment for depression but my County Mental hospital is full.