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Well the stock market made a run up for a short period after Obama took office and it has basically hovered in the same area for a while now. Lots of bad things have yet to take place, unemployment remains high and is getting worse in many areas, foreclosures are still flooding the housing market preventing any chance of a bottom coming soon, and the commercial real estate market is getting ugly to boot.
On top of all that, city and state budgets across the nation are strapped, and Obama and the rubber stamp democrats are screwing things up fast trying to take over wall street. Many have said the bailouts are working and that we should be thanking Obama for quick action and that he deserves credit for the markets rising from their lows. I disagree and think we are about to see things get far worse than they were before.
That being said, I think we are in for a rude awakening as this short rise in the stock market hangs around for a little while and that this year the stock market will begin falling hard again and eventually end up well below 5000. I think we will see it dip below 3000 before the worst is over, and it will probably take a long time for it to recover from there, years not months.
What about you? How low do you think the stock market will go?
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