Don Reynolds

(This appeared in Time Magazine.)

"The US economy remains almost comatose. The slump already ranks as the longest period of sustained weakness since the Depression. The economy is staggering under many "structural" burdens, The represent once-in-a-lifetime dislocations that will take years to work out. Among them: the job drought; the debt hangover; the banking collapse; the real estate depression; the health care cost explosion and the runaway federal deficit."

It pretty much sums up the situation, however we have been here before! The quote you just read is from Time Magazine, September 1992. In September 1992, the Dow Jones Industrials was below 3400, which was the beginning of an eight year run to 10,940.