Who was it that predicted the DOW at 7,000? Looking more that way every day!

I have several times and now I feel it might even go a tad below that if the slide continues world wide. I really think is a market correction for all the BS that has gone on the past 10 years or so.

Watch the corn and bean markets in the next two weeks, they also have taken quite a fall. Yet now I am hearing that production is not what it was thought to be. With less production the farmers have less money to buy fuel to extract the product from the field. I have heard several large farmers in our area have been put on a cash only for fall LP and Fuel to handle the harvest. Not Good.

I also have cattle producers trying to figure out to hold and finish or ship to market. Not good out here now.

I think we will see a major correction in farming and ranching as well this winter. The HOG market is already shot.

Beans and Rice for the next two years.

Some of the old timers around here can probably remember a time when it was implausible that the Dow would ever reach 2,000. Think it was back in the 80's when that finally happened. When I first paid any attention it hovered around 500. So we have come a long way, and there will be a long way to fall. I wouldn't count on 7,000 being anywhere near the bottom.