Crazy week in the market

What a crazy week in the market it has been. Here a just some random thoughts about it. At one point (the market is always changing) the S& P was down 40% for the year. That is a huge number! If we make the assumption that on the average the stock market gives returns of around 7%, this would mean that the average american would have to work 5-6 years just to get back to the principal they had on January 1st. This proabably means they will have to delay retirement that much longer than they would would have planned. There is a big difference in retireing at 65 compared to 70. This also means that new college graduates might not find as many job openings as once thought.