Dow falls below 8,600 for first time since 2003 - on the 1-year anniversary of its all-time high.

Dow falls below 8,600 for first time since 2003 - on the 1-year anniversary of its all-time high.

money.cnn.com

A key measure of investor fear hit an all-time high: The CBOE Volatility (VIX) index, or the VIX, hit nearly 64.

Over the last seven sessions, the Dow has lost 2,271 points, or 20.1%. Since hitting an all-time high of 14,164.53 one year ago today, the Dow has lost 39.4%.

"We are in a free fall right now and fundamentals have been thrown out the window," said Phil Orlando, chief equity market strategist at Federated Investors.

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Woot... or woot?

Personally, I am scared of this depression. I live in Florida, which is now suffering the worst economic downfall in my life time. A major college scholarship program is running out of money. Phosphate (Primary export) is depleting. Disney World is too much of a luxury for most individuals. Homeless rates are a pain. The education system is on the verge of collapse due to Charlie Crist's inability to manipulate spending. Florida is in deep-doodoo, and I bet that other states are experiencing the same types of problems as well.

So exactly why is this happening? Is this deeper than the AIG collapse? Could this possibly signal the future of increase governmental power and a future war for resources?

What is the root of the minor economic depression in the beginning anyways? Does anyone have a new idea?

money.cnn.com
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