How low will the DJIA go and why?

In the Great Depression the DJIA lost about 87% of it's market value before it bottomed. US Steel (X) lost about 90% of it's value during the crash. (X) has already lost from top to botom so far not quite 90%, and the DJIA has not even lost 50% to date from top to bottom. So, are we at a bottom? Are things really different this time because of all the coordinated ( on some levels) government interventions around the world? I say no. Either join the Christopher Cox SEC helped short the banks (SKF) or the less risky (DOG) short crowd or just come back to the DJIA at around 1400 to 2000 in a year or two as a buyer of stocks again. Why? The biggest common factor between today and the Great Depression is the destruction of the wages of the middle class. Throughout history those countries who had the highest manufacturing output per capita enjoyed the highest property values, highest standards of living, greatest military strength, most stable governments, ect... , but a key component of that was that the middle class also made good enough wages to support the economy. The middle class of America is losing their wages, standard of living, and ability to support the entire economy of America. Look at the middle class standard of living, manufacturing output, and wage growth or decline of middle class (if these countries even have a middle class based on wages) of Ukraine, Russia, Germany, China, Brazil, Mexico, the Phillipines, Africa, ect... and note the direct relationship to their entire economies? Let's continue to weaken the labor unions in the US and not pay the US manufacturing workers and let's continue to rapidly slide towards this world wide Great Depression II. Let's continue to give the CEO's and CFO's excessively high pay with no checks and balances on power in the corporate system from shareholders (who will disappear just like during the Great Deppression because there is no other choice, but to loose all their investments, it's not fear it's reality). The middle class wage decline and the middle class standard of living decline in America will continue to lead us into the Great Depression II. The 40 to 1 leverage is also worse than the leverage bubble that was built up prior to the Great Deppression. Capitalism can't survive without checks and balances on corporate power, government power (the Constitution), ect... Capitalism can't survive without fairness, transparency, and accountability for those who corrupt the system. I still see no transparency or accountability, and I do not believe  there has been a law  in the history of mankind that has not been broken by people. If people corrupt the system, they have to be held accountable or others will see their easy and fast rewards, happiness, and success from corrupting the system and quickly take the path of least resistance to happiness, success, and prosperity, for themselves as well. If there is to be a fair tax system make a progressive tax system with a minimum tax on each tax bracket, including any and all taxes paid by each individual including, but not limited to, gasoline taxes, heating oil taxes, natural gas taxes, electricity taxes, capitol gains taxes, registration taxes, ect... and if an individual falls under their minimum then they are required to pay up the the minimum and vice-a-versa. It should be noted that taxes probably should not be raised at this time when liquidity is being added on a historical level because they would be in conflict of each others systemic impact, (just some thoughts to tuck away). So, what is different between the American middle class weakening manufacturing output, weakening wages, and standard of living economic conditions of today and the middle class weakening manufacturing output, weakening wages, and lowering standard of living economic conditions of the Great Depression? It should be noted that capitol is much more efficiently and rapidly recycled through the economy from the middle class than it is from the rich. What percentage of income do the richest Americans spend individually each year, compared to the middle class who are always buying and spending a much higher percentage of their income recycling it through the economy to be taxed on goods and taxed services every year. How much money will continue to evaporate from the stock market as the middle class of America no longer earns enough money to buy American stocks, houses, new cars, solar panels, clothes, computers, ect...Sorry, no more credit bubbles left to artificially inflate the middle class into buying stocks, houses, cars, ect... too much of the manufacturing and middle class wages are already gone and downsized in America. Many of the rich still do not think they need a healthy, productive, manufacturing,  well paid middle class in America. So goes the middle class in 1930 or today, so goes the entire American economy, (government intervention or not, it doesn't repair the fundamental flaws and causes still in the system).  I hope that I am wrong, but I fear that I am not and I'll join the shorts or I'll see you at DJIA 2000 or lower.

it will be lower than the experts usually think, but 2000 is crazy.  i don't find the market "cheap" right now---nor do most value guys.  just because something fell 50% doesn't mean its cheap. 

 

i think 650-700 S&P is right around the bottom.

 

q4 earnings will drive the true "shock."  the analysts have not caught up with reality.