I'm bored so I've been doing some calculations, there's no real point to this thread. Since closing on Dec. 31, 2007: Dow Jones has dropped roughly 34-35% NASDAQ has dropped roughly 37-38% S&P 500 has dropped roughly 38-40% The Dow was trading at its highest margin ever exactly one year ago today. A vast amount of stocks in these markets were sold for a loss. We're talking about trillions of dollars, your retirement dollars, gone, never to be seen again. ...and the year isn't over yet Today, the Dow is trading below 9000...this will be remembered in history books as the Crash of 2008, it has not been this low since May of 2003. It's not done yet. I know the market and the economy are not all in the same. But they are strongly related to each; the market reflects the confidence investors have in our economy. If investors aren't investing in business, that means a HUGE part of our economy is at risk, and thousands of businesses are going to fail within the next year if big investors don't start investing again. My prediction for 2009: (based solely off of intuition) The Dow will remain between 7,000 and 10,000 until at least March of 2009. Market swings of 500-1000 points a day should be expected. We will see more bank failures, a lot more, a major U.S. auto manufacturer will go under, and move their major operations to China. A few airline companies are going to fail, a couple will merge. Gasoline will decrease dramatically in price...it's already down to $2.89 where I live. Houses will NOT start appreciating in value like everyone is hoping for. Medical costs are going to keep rising. Credit is going to be next to impossible to obtain. The cost of health insurance will rise by 10-15%. Gold will reach $2000 an ounce. Wages are going to remain unchanged. All of our problems now were bound to happen. A combination of ridiculously over valued homes, extremely high gas prices, 30% inflation in price of just about every product out there, depreciation of the value of our money, and non-rising wage rates, among others, are all behind this economic mess. What do we need to fix this? Confidence. Lowered income tax, lowered property taxes, lowered interest rates, lowered tax on big business (not the owners, the business itself), fuck, lower taxes for everybody BUT the oober rich, keep their tax rate the same, they aren't the ones struggling right now. Hold on to your asses, the next year is going to be worse than this year. The damage of governmental mismanagement has been done, and there is nothing that can be done to stop this crisis. It's all downhill for the next 2-3 years. Notice how every single time in the last month that the government has taken action, the market has drastically declined? Whatever the government decides to do, it will not work. This is a long term problem that can only be fixed with long term solutions. Essentially, we are fucked for the next few years, no matter what actions are taken. Rant over.