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Today Abbey Joseph Cohen lowered her Dow expectations from 11,300 to 10,800. What world do these people live in?

So what this guy is saying basically is that we're cooked! Stick a knife in us cause we're done. Nothing can save us so the last one out turn off the lights. We can't recover--- EVER?!! Everyone will lose EVERYTHING! Does that about cover it?

The short version is that we are still suffering the aftereffects of a bubble market. The repercussions of the bubble will take years, if not decades to sort out. The reason more "experts" aren't talking about this fact is because the business schools and economics courses don't talk much about previous bubble markets, so they don't have much knowlege of what leads to them or what happens afterwards.

To be perfectly honest, I'm figuring that we are in for about a 10-15 year bear market. Sorry if this is a depressing concept, but I believe this is the truth. The Dow will probably end up around 3000 before this is all said and done. In fact, I'll pick some numbers right now.

Dow 3000, NASDAQ 750, S&P500 500. Within the next two years. This is, of course, predicted with my patented SWAG ("Scientific" Wild Assed Guess) method. Personally, I'm in cash and real estate right now. Stocks and bonds make me nervous.

*Everyone will lose EVERYTHING!

He does give a way out.

"The metals markets are a lot like a volcano. You never know when they are going to erupt. But when they do, it will be similar to the eruption of Mt. St. Helens. Gold and silver are commodities that are in short supply, with growing investment demand, and limited options for investment. When they take off, their rise will be parabolic -- not gradual."