It kills me that they were right...

[harley]

I blame the news media as much as anyone for scaring the hell out of everybody and putting fear in the marketplace.Let's face it bad new sells.The longer they cry "Great Depression 2",the more likely it's going to happen.They have all but destroyed consumer and investor confidence.Until that is restored,we will continue on this downward spiral.

One of the few places I agree with the doomsayers is when they point out that this market collapse isn't driven by individual investors, so I don't think the media clowns are having that much effect. On the market. They are effecting things like consumer confidence which helps the non-shopping trend. And I definitely believe they are contributing to the general malaise that people seem to be suffering through. But I think the actual drop in the market is due to the credit crunch and the giant institutional investors and hedge funds being forced to sell into dropping prices. I'm hoping that after the hedge funds can quit their selling (2nd Q 2009?) prices will stabilize and the market can either bounce or toil upwards.