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Before I add my thoughts, I want you all to know that I've read a few books on economics, and I am as qualified to talk about this subject as Ray Charles and Stevie Wonder are at telling me how many fingers I'm holding up (Actually, they would probably be a bit more accurate than what I have to say)
I think the market will dip further, and further, and we are going to have a market crash, a good old fashioned depression, like my grandma lived through. Even if the government "bails out" everyone, where is the money going to come from? I believe I heard they will just print more, causing inflation and devaluing of everything.
I see "poor" folks (those without investments) not noticing too much, until businesses go out of business, and they don't have jobs, and so they can't afford what little they have now.
The upside is, I think, we will start to focus on what matters and realize that not everyone needs an Escalade, a PS3, two computers, and $120 jeans. Think about it, it all stems from people thinking they have a right to things they can't afford. "I know I only make $20,000 a year, but fuck you, I'm an American and I deserve a $300,000 home, now give it to me." On a smaller scale, "i don't have the cash, but I want those shoes, so I'll just put it on credit." On a larger scale, we have a war and we borrow cash from other countries for what we want RIGHT NOW. It's back to bite us on our greedy solipsistic asses.
If somehow the market doesn't crash, we still have that massive debt. China and other countires will want their money, we won't have it, it will take it in land. They will move thier factories here and we will be cheap labor, and Chinese people will complain about and mock things "made in the USA"
We've had our time in the spotlight, we have to get off the stage and let the next act do it's thing.
Ok, I'm done. If you are still reading, thanks, but that is 1 1/2 minutes of your life you won't get back.
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