A month ago, the Dow Jones Avg. was at 12,083.77......

[marmar]

Right now, it's at.....11,044.53


401Ks are going :nuke: all over! :scared:


http://finance.yahoo.com/q?s=%5EDJI

[HughBeaumont]

1. This is what happens . . ..

. . . when you shift the risk, loss and burden on an already-strapped middle/working/poor class while giving the upper 1 percentile the wealth, spoils and breaks. Our proportion is far greater in this house of cards, lest they forget.

[Amonester]

4. But... "our proportion" is "mostly" being "kept" ...

ignorant

("distracted" on purpose)

while ALL their "pockets" R emptied

7/11

[zbdent]

8. tossing billions of dollars to stockholders in Bear Stearns, other stocks,

and nearly a trillion in a hole in the Middle East (actually borrowing from China) ...

(and also a few billion dollars to the airline industry in the months after 9/11/2001 ...)

[skooooo]

2. Oh we got another whiner here!

:sarcasm:

[Lifetimedem]

6. It is all in his head

not to worry !

[Subdivisions]

3. The current support level is, I believe, 10,800. If the market sinks

that low, it'll be set to go down to the next support level which is...wait for it...

8200*!




*Someone correct me if I'm wrong.

[Subdivisions]

5. Sidenote: Feds DID NOT bailout Fannie and Freddie. Looks like

the Money Men are going to allow Fannie and Freddie to fail on their own. Developing.

[Coyote_Bandit]

7. Ummmm

My employers never offered the opportunity to participate in a 401k. It is beginning to look like not having that opportunity was a good thing. I may not have ever gotten an employer match to increase my savings but I can take what I managed to save and freely invest without penalty in something other than stocks, bonds or cash.
I used to work as an investment portfolio manager. FWIW, the current stock indexes which we think of as US market indexes really have little use as indicators of the US market. Why? Because they do not reflect US based businesses, utilizing US labor and resources and selling primarily to US markets. They are largely composed of multinationals and companies that offshore and outsource. Lower that index by another 75% or more and you will have a better indicator of the US market economy.

This country is bankrupt and has been for quite a long time. Consumer spending represents something like over two thirds of gross domestic product. Consumers are carrying historically high debt levels. The national tax burden is largely borne by individual taxpayers rather than business taxpayers. Lenders are embroiled in scandal because they made credit available to borrowers who did not meet traditional lending standards. The nation has experienced growing trade deficits for decades. Our infrastructure is crumbling. Fewer than one in ten US residents is employed in the manufacturing sector. In some segments of our society blue collar work is not valued. Secondary education is becoming increasingly expensive and unavailable to many. There are multiple barriers that discourage innovation and entrepreneurship by individuals. Tax burdens can be expected to increase as baby boomer government employees reach retirement age and taxes are required to fund their pension plans. Same possibility exists with respect to medicare and social security.

The rocky economic ride isn't over. And probably won't be for decades.

Oh well.

[scheming daemons]

9. It's worse than that..... on January 20, 2001.... it was at 10,545

The day Bush took office.


Want to know what it was the day Clinton took office (01/20/1993)?


3372.