Dow needs to get down to around 10,000 before the economy will be free of the garbage

I've not posted it here, but for the past year, I've openly noted that the Dow needs to get down to around 10,000 before we'll have all the clutter in the economy cleaned out.

Some won't like to hear this, but that's the nature of bubbles and cycles of boom and bust.

It looks like we're heading that way now.

Pain will be in store, but until the economy disposes of all the fluff and junk, we're not going to move ahead.