DOW COULD FALL TO 8,500

Malcolm Berko wrote a column September 5, 2010 that really caught my attention.  He was responding to a question about the Elliott Wave Theory and its prognostication that the Dow would fall to 1000.  His response was concise and seemed to grasp all the worries and concerns about our economy. ..."I do agree that most of use are living 20 to 25 years ahead of ourselves, and we are being forced to lower our standard of living.  Wages will decline, taxes will increase, personal consumption will decline, housing prices will continue to drop, the national debt will worsen, the health care bill will crater federal and state budgets and unemployment will grow. And across the pond, Europeans are reducing their budgets, lowering their pension payouts, raising taxes and locking their treasuries.  Their imports will decline and our exports will decline, causing the loss of more U.S. jobs.  Europe's standard of living will fall, unemployment will increase and their wages will fall. Oh, it won't happen today or next week... but it is happening now, sort of like a death from a thousand cuts". This from someone that has given people investment advice for years and has a good grasp of economics.  I believe these words are a prediction of where things are headed right now. Larry Henson