Today's losses in the market were again refreshingly in touch with the gravity of the situation the U.S. economy and quality of living is facing in general. I still have my doubts that the long time bulls will actually "get it" at this point. While the overall mood for the month continues to be somber, I would not be surprised if many see today as another buying opportunity, rather than the glaring warning that it is. Excuse my cynicism, but it has gone on way too long-- Wall Street wonders profiting while the average U.S. citizen feels an increasing sense of impending "something."
Don't get me wrong, I am not looking forward to a stock market crash. I am dreading the implications for jobs, services, and quality of life. I suppose I am highly annoyed with the fact that we have overshot "reasonable" by so long and so far that such a high price needs to be paid to balance it all out. Overspending, over-consumption, over utilization of resources-- we in the modern, industrialized world have done this to such an extent that the "correction" will not be pretty.
The beginning signs of this-- large downward movements in the global stock markets-- should be coming soon, but not immediately. Today's 200 point dip in the Dow was just a "drop in the bucket." The "big one" is not here yet. This increase in volatility, however, can be seen as pre-shocks to something far worse that is just barely coming over the horizon.