Saville is talking about a drop to S&P 650-700 by the end of this year or early 2003 after a rally above 1000. The rationale behind that expectation is an anticipated plunge in the dollar and a resultant substantial jump in interest rates.
“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi