I don't think we'll get there, but I do think the S&P still has a bit more to fall. Over the next three months, it should bottom at about 650. Of course, that's just a guess. Then it'll be time to start buying, or NOT. The precipitous decline in October 2008 is what is disturbing. The 1973-74 oil crash and 2000-02 tech crash isn't really comparable. During those crashed there wasn't a financial crisis. The current financial crisis is constraining credit and limiting firm from expanding, which in turn means less jobs in the future, and less consumer spending. Times are going to be tough.
Expect a HUGE jobs program come January.
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