The stock market is on a dive. If you have money in the stock market,you're losses are accumulating every minute. Your money is going bye-bye.
Today, as of this writing, the Dow Jones is down almost 50 points.
Here are some other recent headlines:
Chicago Tribune: "Boomers find losses in market hard to bear." - July 12, 2008
MSNBC.com reported today, July 14, 2008 - "Stocks end down after mortgage-aid plan."
On January 18, 2008, Axinar.blogspot.com reported that Jim Cramer predicted a 2000 point stock market drop.
Financemedia.wordpress.com reported on February 28, 2008, "Stock market drop on Jobs statistics, Bank worries!"
The crashing you hear did not start today, or yesterday, or last week. It started a long time ago. But the sounds of despair began growing last year.
On February 27, 2007, the stock market dropped 400 points.
Ghostlandseller at abovetopsecret.com represents how many of us feel:
"So after the recent failure of Bear Stearns and Indy/Mac I decided to look at all the other major stock charts for other large banks. Wachovia, Wells Fargo ... JP Morgan/Chase, Bank of America, etc."
And Ghostlandseller thinks they are all going to crash. They're bleeding money and their stock is in the cellar: a huge loss of capital, about 70% in a month or so.
"This just seems all too similar to the original Great depression (sic). All we are missing is a [m]ajor stock market collapse to really spark the flame..."
Ghostlandseller has been honing his outdoor living skills and when the shit hits the fan, he's heading for the mountains to live off the land.
Hopefully, it won't come to that.
But...
Do you remember when the dumbest prezident ever wanted you to toss your Social Security lifeline and gamble that lifeline in the stock market? Which was nothing more than a transparent effort to put more money into the pockets of his Wall Street buddies!) At the same time, Bush and his buddies were busy raiding the Social Security Trust Fund!
Do you know that John McCain still thinks that's a good idea and he'd go along with it...uh...you know, the Bush plan...?
Aargh!
1 comment:
I am willing to bet that many still think it a good idea to change Social Security so that more risk is involved. It is said that the Baby Boomers do not have enough put aside to live well in retirement. Social Security was designed to help but not to be our only source of retirement funds. I know I am glad to get mine and have been paying in since before 1940. I have never worked anywhere that had a retirement plan. I am glad I was able to retire when I did. Without it, I would be more than unhappy.
Bob Poris
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