the band-aid comes off....dow down -62

[spanone]

we may end up a bankrupt nation before bu$h* leaves office.

[Ichingcarpenter]

1. I said yesterday that this is like the eye of a hurricane

It would be calm at first but then the wind will start picking up
as soon as the Brokerage houses and Financial institutions start reporting their earnings
this week and next.

[DavidDvorkin]

2. Does that mean it's actually up 62?

Childish, but I couldn't resist.

[tuckessee]

3. Americans should panic but they have nowhere to turn to.

Everybody is so wedded to the system with their 401k's, etc. that all they can do is sit slack jawed and glassy eyed as their world starts to crash all around their feet.

[MercutioATC]

4. If people looked after their finances, many could have minimized the damage.

True, there are some who are locked into some investments (401ks in company stock, for example), but most people just don't do their homework.

I've had my 401k in government securities for over a year now. I missed the runup of fall 2007 and I'm actually losing about 1/2 of a percent to inflation, but I'm way ahead of where I would have been had I left it in stocks.

People got spoiled by the easy money in the early 2000s. They really need to start educating themselves and keeping an eye on their investments.

[Winterblues]

5. Imagine if people had privatized SS as Bush* wanted in 2004

:shrug:

[spanone]

6. down 82 now