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Commentary Topic from greenfaucet

Depression in 2009?

After suffering through the biggest stock market correction since the 1930s, many are wondering if the market - that great discounting mechanism - foresees depression in 2009. The thinking behind this interpretation of the 45% correction is that the stock market envisions a collapse in GDP and the biggest downturn in consumer spending of the current generation.  Could the bear market of 2008 in fact be warning us of economic gloom next year?  Is the U.S. destined to start the path, in the words of one widely followed observer, to becoming a Third World country in 2009?