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Ok... just for fun what does everyone think is going to happen over the next couple of years. I think we are in for a small rally in the next few months. Not the end of tough times but a short reprieve from the uncontrolled bleeding.
I hope that you are right Josh, maybe ill be able to sleep a bit better at night knowing that my job will still be there when I wake up. My office has been putting out a lot of proposals but unfortunaltely we havent been adding enough new job to our schedule. some small stuff but we could use a good shopping center or two keep a couple guys busy for a few months!
"Just for fun?", Josh your youthful spirit is showing and that's a good thing. If I was to use tunnel vision and focus mainly on the market as opposed to our economy and the global economy, I think a lot of investors such as myself and those who were invested indirectly through various funds, money markets, etc, have taken such a financial beating or loss that they cannot participate in any substantial recovery of the market. New investors, younger folks who are closer to the beginning of their careers will need to regrow what is left of the market after the blood bath. I got ahead of myself because I do think the worst is yet to come, a little good news that sparks a bump will not change the reality of past mistakes by banks, and other industries which have dug themselves into a very deep hole. If we are expecting consumer spending to jump start the market, that will also be a serious problem because folks are either too broke or too cautious to spend like they did a year or so ago. I think the market will continue to decline with an occassional rally, a couple years down the line we will either start to see a recovery as a result of new industries employing millions who in turn will spread their wealth, OR, no I'm not going to say what I'm thinking! Everything will be fine, just hold off investing for a while.
I`m sorry Josh but the whole world is in for a vary bumpy ride over the next couple of years and I mean years as we haven`t been in this situation since 1929 and we haven`t learned thing since then where plain and simple greed has destroyed it for us all.
if you want numbers in most opinion from economists I have read their opinions average out to that we will rebound to about 8500 then drop to 4000 in the next 2 years. gotta look at any bright side left to this. My investments are in for the long run but not much of em left after a 50% drop. We are printing so darn much money that I think massive inflation is inevitable which throws another huge factor into our recovery.
And yes I do feel bad for those who are close to retirement and have lost half of what they spent 40 years saving. I just have 12 years worth that was cut in half. Tough times... its funny that positive new is now just leveling out after some deep drops. Who knows though... may drop hard again in the next few weeks. Thats why its all speculation.
I was watching a current affairs program on TV with an Australian reporter travelling through the US reporting on how the recession is effecting the people of a town called Willmington in Ohio and how desperate it is, and on another segment where forty five million Americans double the population of Australia have no medical cover and couldn`t beleave what I was watching. We are starting to going into recession here but is not as bad as what I am seeing in the US.