>>>The FTSE 250 has dropped below 9000 this morning and is still going down. I wonder what will happen to the DOW. Same thing I think. Some way to go to the bottom yet.
>>
>>There's no bottom. It can fall endlessly.
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>>Been there, saw that, and couldn't find anyone who'd have cash to buy the T-shirt.
>
>Surely you don't really think what you saw in Eastern Europe is applicable. The U.S. stock market is not going to fall to zero. It goes up, it goes down. It does not disappear.

It doesn't, it just gets expressed in weaker currency. Three years ago, when Dow Jones was at 13000, someone calculated that it should be at 16000 just to break even with 1999 - adjusted for inflation. But somehow this adjustment gets forgotten.