Tuesday, March 3, 2009

Dow Falls Below 7000 for First Time in 11 Years

and people freak...they are jumping out of windows...going to the salad bar illegally...making soap at home...dogs and cats are living together...what is going to happen when it goes below 6k or 5 or 4?

That's where its heading if does what it has in past depressions. For example

For the past 6 months the stock market has been mirroring the market of '29. The final low for that meltdown was not reached until 1932. There were a few sucker rallies along the way. Just to lure people back in before putting the hammer-lock on them again.

I have been saying for months that the Dow would fall to between 3,000–5,000. But I am the eternal optimist......always looking on the bright side of life, where every glass has a silver lining and every cloud is half-full! Unfortunately if the stock market repeats the experience of ’29-'32 it will fall below 2,000.

I'm trying to picture how people will react and behave if I'm even close to being right. Will there be a rise in crime, suicides and just general meanness? Or will people be more likely to help each other out and stick together during an economic collapse. Will having to life a slower simpler life cause people to reflect more on what they really need and what is important? Or will they just continue to act like putzes?

Check back in a few years for the answers. In the meantime...good luck out there and don't forget to stock up on gold, guns and groceries.


Catherine said...

I've watched last evening, on French TV news, that it is forecasted 300 000 new unemployed persons in 2009. It sounds an immense number concidering our working population ! Iwonder if our media are as optimist as you ?

the donk said...

bro, if the market collapses, i am moving in with you...

Rob said...

Dear Lord please don't let the market collapse. We aren't zoned for Donkeys at my house