Economy

Some people say the Dow Industrial what-ever-you-call-it (... index!) will decline to 5,000 within a short time. I disagree... at least, I disagree given the present set of circumstances. Put a bunch of "deficit busters" who are also "keep the tax cuts" in  charge and all bets are off. (One of the problems with 'keep the tax cuts' is that the cuts are for the wealthy. The rich spend less than the rest of us improvident grasshoppers - they don't have to spend as much as a percent of their assets as the rest of us do, and they can move money overseas, too. Money in a consumer society is made by putting money into the hands of consumers... and this is what we are not doing and have not been doing for a while. The fact that it is bass-ackwards and paradoxical is proof that it is indeed our policy:  if you wish peace prepare for war type of thinking and logic that has been our bane!)

In August 2007 I wrote down on a piece of paper - which I still have - what the Dow would be within 2 years: 10,000. It went to 6,000 in 2008. It is now at around 10,500 +/- 500 and has been for a while. The extra decline to 6,000 was Panic Selling.
I do not see Dow 5,000.......... UNLESS..... the idiots who got us into this mess in the first place are elected.
(Even then, I see 7,500.)