Gloom

My predictions just became gloomier. I fully expect the Dow to go down as far as 6000-8000 points before it recovers. Interest rates will go down in the short term, I think the Fed might very well lower them at the end of this month. However, this will come back to haunt us by driving up inflation, which will in the longer term increase interest rates. I think we’ll see over 10% or more within the next few years, just like in the 80s.

I don’t think we’ll all be out of jobs or going into another major depression. Just a deep recession. Non-essential budgets will get reduced (think advertising, like the industry I’m in right now - oy).

Oh, and can they just keep Bernanke from speaking out publicly? Everytime that guy makes an announcement the Dow drops 300.

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