Re: the dow at 3000.
some pundits are openly calling the dow to be 3000 by xmas. some are saying much sooner.
what will the world be like, if or when that happens?
.
Actually, when I drive around now and shop etc, it all looks pretty normal. A few familiar shops & businesses have gone under or are "for sale", but in general, no big deal UNLESS you are directly impacted by sacking or loss of home through foreclosure etc.
The sun still rises and sets.
The skies are grey or blue.
The moon goes round and round.
The birds still sing.
It takes a lot longer for real world reality to set in. Compared to the daily "shock" market (hi to robots
) the world's economies and social structures are relative trundling behemoths that seem to move oh, so slooooowwwwlllllyyyyy.
IMO by end Dec 2010 it could look pretty grim if the DOW is anywhere near 3000 by end Dec 2009.
Expect to see LOTS more closed businesses and shops.
You probably won't be able to buy a lot of favorite items from the Supermarket store - if it actually is still open!
Many more families will lose their homes. (30% more registering for emergency accomodation this year in NSW alone).
Unemployment would maybe top 10%!
News media stories will be god-awful, woefully grim, as is their wont.
All manner of sporting events will be cancelled due to lack of investors or advertising funds.
Some public TV broadcasts might cease to exist. CH10 & Seven are basket cases already.
GMH & Ford Oz would likely fold, regardless of what they say now.
and so forth.....
IMHO.