If you look at the DJIA at 1980 it was just under 3000 pts. With that in my mind things aren't as bad as they seem. Don't get me wrong I'm not pulling a McCain and saying everything is peach and cream with a bed of roses.
Losing 1,200 points is a huge thing. aeortar, you failed to mention that under bush that the DJIA hit its hittest market to date. To say that 'such things is at best unreliable, and at worst highly misleading' is fair from the truth.
DJIA is impacted by the government. Granted, the government is not the only thing that it impacts.
In reality, the stock market was reaching its peak due to muliple reasons. My theory is what goes up most come down and vice versa.
One thing that I will mention is that people from the States (I am from the States) need some self-control. Just because you have a credit card does not mean you need to use it to buy everything and then any ugly thing.
Well unless, you're doing your part to stimulate the economy WELL then SPEND SPEND SPEND.