Even after the great "crash" this week that dropped the DOW to the lower 13,000s, the DOW was still over twice the level it was during a thriving economy ten years ago. And it's still over a thousand points higher than the one-time peak of the stock boom of the 90s (around 11,700), and a lot more stable in my opinion than that market was. I also think that a correction is overdue, but even after the correction, the market will still be at historic highs.
Tax revenues continue to pour in, and the CBO is predicting a deficit for this year of between $150 and $200 billion. You are welcome to research the predictions for the 2007 deficit being made a couple of years ago. Other economic indicators continue to be good.
Frankly, the "doom lust" is getting old.
Current Events » in reply to Did anyone else see this stock market drop coming?
Perspective
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- Did anyone else see this stock market drop coming?
- So down about 1000 points since it hit 14000.
- Perspective
- I have to laugh at all the panic selling
- And here's PANIC! From the Fed.
- Sure. Did you see the "Cramer" interview cited on HZ?
- Not in the timing, but...
- A 5-10% correction could happen at any time.