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To: GROUND ZERO™ who wrote (7605)	7/17/2010 11:46:07 AM
From: Gary105	1 Recommendation Read Replies (1) \| Respond to of 222099

Thanks GZ. That fits with Prechters trend of a temporary bottom in 2012 followed by a feeble rally, followed by ultimate bottom in 2016. He thinks Dow may ultimately go below 1000 but definitely below 3000 at the bottom. There is unfilled gap in the 2500's for the Dow. Personally I dont see how we can avoid a global double dip given the existing weak economy, austerity measures in Europe and the 2011 expiration of US tax cuts. This looks like a rerun of the 1930s. Oh I should also mention the pork driven stimulus package. While I favor a stimulus, it must be efficient. How many jobs have been created - very few. Given that close to half of the $792B stimulus has been spent (either directly or through tax cuts) we should have created 4 million jobs. Instead we created a few hundred thousand at best. I arrive at 4 million jobs given that we spent $400B and that the US GDP of $14.6 T employs 139 M people or $105k per job. $400B/$105k/job = 4 M jobs.