Has the Great Decline begun?

bonehead · Posted: Mon Jun 30, 2008 7:47 pm Post subject: Has the Great Decline begun?

The Dow just had the worst June since 1930 and oil is now trading at $140.Some people think the bottom for the Dow is 10,000.I think it's gonna go lower than that.Opinions anyone?
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Gimme some demand destruction.

Jack · Dark Lord Joined: Aug 11, 2004 Posts: 5123

HEADER_RACK · Intermediate Crude Joined: Feb 15, 2007 Posts: 540

Yes I have an opinion. When this really starts playing out- you won't care what the DOW is at.
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Nothing is more dangerous than a man with nothing left to lose but has everything left to gain.

Cashmere · Light Sweet Crude Joined: Mar 27, 2008 Posts: 1971

How many calories are there in the Dow?
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Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group.

Nicholai · Posted: Mon Jun 30, 2008 8:41 pm Post subject: Re: Has the Great Decline begun?

What is so significant about the DOW hitting 10,000 points? Is it just a measurement of confidence in the markets 500 major companies and their future profitability? It seems like markets are made up of nothing but 'confidence'....I cease to understand them in the slightest. All I know is, at 140$ a barrel and with Americans leaving their homes in droves, this is the beginning of the Fark we call industrial civilization...I give it 1 year to a year and a half. 2010 will be a crap storm. Oil at 250$? Yikes!

biofuel13 · Posted: Mon Jun 30, 2008 9:52 pm Post subject: Re: Has the Great Decline begun?

I'm thinking that the Dow will hit bottom between 5500 and 6750. My father was a broker for 30 years and always has faith in the markets. Last spring for the first time in his professional life he pulled every penny he has out of the markets. Last summer he was saying the Dow would bottom around 11,000. Now he thinks it's more like 8,000.
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"With man gone will there be hope for gorilla? With gorilla gone will there be hope for man?" --Ishmael by D. Quinn

Milret2 · Tar Sands Joined: May 01, 2008 Posts: 24

The DOW has a relatively long history. In 1929 it hit an all time high of 381 (since inception at that time) before falling to 41 a couple of years later. It was a mere thirty years later (and a big war) before it ever saw 381 again. A similar loss now would take the DOW to 1135 ... about where it was 23 years ago. If Jim Kunstler is correct in his analysis of peak oil's effect on our markets 1135 will seem not all that bad. I can see his point and I have a least half of my own not inconsiderable assets tied up in investment securities. How ever, if he is right I suspect it does not matter that much one way or another. At least I have had my own share of fun and have no children to worry about.

SoylentGreen · Heavy Crude Joined: May 25, 2008 Posts: 168

Like you said, the '29 crash didnt happen over night. it took 2 or 3 years for the market to bottom out.
The residential real estate market will not come back.People wont have the $ to buy because all thier $ will go to food and fuel.

allenwrench · Intermediate Crude Joined: Apr 23, 2008 Posts: 893

Buggy · Heavy Crude Joined: Jun 23, 2008 Posts: 149

Hmmmm. Would decline be the same as paradigm shift? Is what about to happen good or bad? For those who die, is it freedom or imprisonment? For those who live, is it freedom or imprisonment? Aren't we already imprisoned and plugged in to a way of life created to collapse? Should I take the red pill or the blue pill?

yesplease · Fission Joined: Oct 03, 2006 Posts: 2482