DOW currently down -520 points. Down over 2000 since Jan 4. The...

[ChisolmTrailDem]

...financial system collapse many have said is inevitable seems to be here.

Am I wrong? Is this just a correction? How low will it go?

[Rex]

1. Only the house knows.

And those owners will do like they always do, mop up what is left over.

[Orrex]

2. This sounds like a good time for a lecture on the virtues of 401K plans...

along with a healthy dose of scolding for all those private citizens irresponsible enough not to be market-savvy investment geniuses with a glut of disposable income.

[Travis_0004]

5. Where do you think most pensions are invested?

[Orrex]

6. Your question implies that I don't know, which is incorrect and absurd.

So who are you asking?

[Major Nikon]

21. Perhaps, but you haven't demonstrated evidence of it

The biggest difference between a defined benefit pension plan and a defined contribution plan is who gets to manage the investments.

A better question might be, what makes defined benefit pension plans better in regards to market fluctuations?

[hack89]

8. Every major private and public pension system is heavily invested in the stock market

it is the only way they make economic sense.

[Orrex]

12. Yes, I know.

[FreakinDJ]

10. pulled mine out last week

[Rybak187]

3. I think this is just a correction.

The collapse will hold off until the end of this year or the beginning of next year.

[KamaAina]

17. Let's hope so.

Collapse before election = repuke landslide.

[Major Nikon]

23. Ironically the reason for the collapse is the GOP "drill, baby drill" ideology

[B Calm]

4. It was over 18,000 back in July. I hope these wall street banksters feel the Bern!

[Elmergantry]

7. Buying opportunity. NT

[Kelvin Mace]

15. Absolutely,

for the 5% of Americans not living paycheck to paycheck. For the rest, not so much.

[Elmergantry]

18. Nah There are a lot of people like me.

I live pc to pc for the most part, but a little piece of my earnings goes into stock via 401K...

[phleshdef]

9. Its oil prices dropping and Asia not having the best time right now.

[davekriss]

11. At 14700 we're officially in a bear market, still have some room to fall

But my guess is it will fall (presenting a super buy opportunity for those with cash). All signs point to recession. The collapse of stock values will only cement the reality.

At least this is my uniformed, lay opinion. No one should base an investment decision on these remarks. I have a long, wonderfully negative investment track record.

[Kelvin Mace]

13. Who know?

The stock market, as it is currently regulated, is more a shared delusion than an economic engine. As long as everyone believes, things are fine, but it doesn't take many people bolting to cause a full scale panic.

The banks are heavily invested in oil ventures since, you know, oil prices were going to rise forever, like real estate prices did. And with all of those loans going sour, and China's economy imploding, things are going to get ugly, just in time to blame Obama for it all.

[edhopper]

14. It's a reaction to Asia

and specifically China. Probably an over reaction.

The US Economy is strong and earning reports have been good.

Might be a good time to buy at a low.

[brooklynite]

16. I have five more years to work before thinking of retiring...no point in panicing

We continue to methodically invest in a balanced set of equities, bonds and CDs.

Market goes up: they're more valuable.

Market goes down: they're cheaper to buy.

[Ligyron]

19. amen. eom

[nadinbrzezinski]

20. Correction

And it depends on the banks

[whatthehey]

22. Reality check

At the end of 2013 - a gnat's hair more than 2 years ago - the markets were celebrating their best year in over a decade and the bulls were celebrating.

The broader indexes were lower than they are now, and the DJIA wasn't much higher.

I remember people saying then it would collapse soon and I was a fool to buy so high. Now they are still telling me it will collapse, but because the same numbers are so low.

Me? I just trust DCA, with over a century of good evidence why.

[Dawson Leery]

24. Oil is plummeting and the banks heavily invested in the industry.

Lots of junk bonds are going under.

The big bank stocks are down 10% or more because of this.

So far this seems contained. Consumer spending and non-oil manufacturing as well as healthcare and service sectors are doing just fine.