Where is the DOW going?

After injecting trillions of dollars of quantitative easing with no improvement in jobs or asset value discovery it's clear that leadership elites either haven't a clue how to fix global economies or they don't care.

Even as the DOW sunk back into 2011 values all anyone could talk about was the failed Facebook IPO. What valuable service or product does Facebook provide? GM cancelled Facebook advertising. How much value does a gossip service provide? Any?

Like Facebook, much of the corporate world is a hollow shell post-2008. If 25% of the workforce is either unemployed or under-employed in consumer economies, who can afford to purchase the stuff that drives companies to successful outcomes? What is the real value of these hollowed out companies? God only knows.

Now that the DOW has dropped into 2011 values due to the crisis in Europe I expect the DOW to find one of two possible lows. The next target is the post US downgrade low of 10,700 of September 2011. As economies slide into recession, business activity will slow as governments chew up more and more resources. The low-low target is the 2009 low of 6600 where the market resets all the way back to where it started but this time without government intervention. Banks are in trouble because governments are in trouble so we could see a collapse.

It is clear for all to see that elite government leadership has continuously failed to manage the 2008 collapse. The ever more desperate attempts to contain and control the crisis have only made it worse. Math will not fail despite the fictions.