To my mind, the $64,000 question is: Are we looking at long term stagflation? You may find that you buy back in at DJIA=7700 and NOTHING happens (the economy just lays dead like it has done in Japan). People talk about Greenspan doing this or doing that... Greenspan has run out of bullets. The prime rate is so low now that to effectively influence the economy, Greenspan would have to pay a percentage for people to take the Federal Reserve's money (hardly likely). The U.S. balance of trade is out-of-hand and the federal government is back to deficit spending with the federal debt as big as ever. People have long said that the twenty-first century was going to be pretty rough (usually in the context of over population, resource depletion, etc.). Is economic stagflation the first step in the long and dismal process of everything going down the toilet?

Gary