As you can see from above I posted 7314 for Dow and we posted a year low of 7392 so far.
But this looks extremely ugly. All markets are showing weak economic figures and a return of the 4-7 year recession looks ominious.
Worst Year Ever for Stocks: 'Irrational Exuberance' of 1990s Being Unwound
'Crisis Only Just Beginning': Right About the Crash, Peter Schiff Sees More Pain Ahead
For those who have debt and need to deleverage or cut spending, you need to plan this now. Put together your income and expenditures if your Income exceeds Expenditure then fine but work out what you would do if income fell by say 30-50% then what? How would you replace it, what could you go with out?
The closing of a the first decade of 2000 is going down in history as a period which changed the World, where it ends is anyones guess... my prediction in the short term is that Obama will roll out his inaugural speech in much the same vein as FDR did but this time, Obama does not have a Depression already in full swing, he steps in at the front end of the low pressure system.
There's a very good short clip on
Why 'Powerful' Rally Won't Last: 'A Lot of People Still Have to Deleverage'
FDR and Obama: Bold Action and Experimentation
FDR and Obama: The FIrst Hundred Days
