The Great Panic of 2008 is underway. Gonna be some amazing stories for the grandkids. My Dad is 80. I never thought he might live through 2 Depressions in a single lifetime.
Here’s the question: how far will the DJIA, NASDAQ, etc. fall when we reach bottom? Given the numerous “circuit breakers” in place to prevent uncontrolled runs on the the stock market, I doubt we will drop under DJIA 8,000 before institutional investors start snapping up undervalued US stocks.
Both of my parents are over 80 and I don't think either of them expected to have to live through another depression. I know most people my age are in for a rude awakening.
Whatever happens (and I don’t believe it will be as bad as another depression), we need to make sure that everyone understands that it is Not the fault of Bush and the Republicans. The natural inclination of the public will be to blame the current administration, just like they blamed Herbert Hoover. The real blame lies with Carter, Clinton and the Democrat Party, and we need to make sure that the public understands that.