Does anybody believes in this most dire dow prediction .I also posted in off topic section.

Reverse carry trade bubble ready to take Dow Jones Industrial Average below 1700 in the next twelve months
Fred Day
Oct. 25, 2008

The the massive reversal of currency positions in favour of the yen, reflected further liquidation of the so-called “carry trade”, in which investors borrowed at low Japanese interest rates to fund risky global investments.

The depression is deepning. The stock market waits the next round of selling that will really hurt the pension finds and 401(k) safety nets. The sharp rise in the yen forced further sales of stocks, commodities and emerging market assets as investors sought the safety of short-term government debt. Redemption requests from investors in mutual and hedge funds intensified the forced selling.

The collapse in hedge funds’ net asset is manifested with the crude oil falling below $65 a barrel. The ctude oil can test $10 a barrel within the next eighteen months pluging Middle east into the deepest depression.

The carry trade effect and the baby boomer demograhics can force Dow Jones Industrial Average to test 1700 in the next twelve months. At the end the Government will own ‘everything’ feasible.