Really and just how many economic cycles has this guy seen where the banks and automobile companies are virtually insolvent? This market has just as much chance of going to 3600 as it does of going up 1000 pts. Anyone who tells you otherwise is delusional.
Don't forget you have baby boomers starting to retire. They are going to need to pull their money out of the market over the next 20 years. That is going to have the tendency of keeping the market flat.
I can't think of any sector that can lead us out of this. So unless there is some wonder technology about to come out that I'm unaware of I just don't see it happening. Don't forget you have an administration that wants to tax miles driven, hold off on any oil drilling, put anti-growth policies in place to protect us from Global warming. Where exactly does a bull market rise out of this. We are the Japanese market of the past 10 years with one arm tied behind our back.
The average investor is not going to make substantial returns any longer, I agree.
There are must-have industries out there. Food, medicine, utilities. These sectors will ALWAYS have demand.