Rattlesnake Bob

2009 Depression Will Be Nothing Like 1929

I certainly agree the world is different place economically than in 1929. Today, corporate America is joined at the hip to pension funds that will require the respective companies responsible for them to spend billions to keep them viable in this economic climate. When this dirty little truth hits home to investors, and it shall become an issue very soon, the markets will panic again and again, grind lower. I do believe that there is very good support in the Dow Index at about 4600 to 4700 which represents a 67% retracement from the highs. Unfortunately, at this level, many, if not all pension funds will be broke, which will require another massive bailout from the federal government. Additionally, let's not kid ourselves. The very technology that the author claims will keep us economically viable, will not help us where we are going, and if the author thinks that a global economy will lend support to this disaster, what happens when China cashes in its treasuries, and Russia unwinds economically. Unlike the last depression, the world economy will keep us needy until the whole world is sound again. Is there a bright spot? The United States is the breadbasket of the world, and no other country has better military hardware and soldiers than we. Also, for those with cash, there will be some once in a lifetime bargains when these markets finally bottom next winter. Cash is king. Cheers!