...recover and another stock market bull run? What happened to this? (Prediction for 2008: the housing market will recover and another stock market bull run after it hits a low of 12000. America is rich; foreigners will continue to trust us)

I just read this prediction that was given just a few months ago.
And this was a MAJOR economist talking, not just some idiot.

So what happened?
And who the heck is Dick Cheney, and why does he have so many Swiss Bank accounts?