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After a sharp bounce Dow Jones Industrial Average is headed south below 6,000
Sam Adelton
Oct. 18, 2008
The news of depression all over the world has finally touched the mainstream media. Most nations are still in the state of self-denial. But the reality is here. The u7nemployment rate in US is headed north of 14% with a consistent GDP decline of 4 to 5% for the next several years.
The Dow Jones Industrial Average is in a state of sharp bounce, a typical characteristic of depression haunted financial markets like in thirties.
Eventually after a few weeks of artificial support, the market will fall through the cracks of reality into the final leg of the third wave massive decline pushing Dow Jones Industrial Average below 6,000.
Printing money and supporting the market through artificial doses of stimuli has run its course. The cancer patient is really sick. The patient will soon stop responding to painkillers. Chemo or other therapy is needed but the Governments do not have the knowledge of that.
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