Wall Street Woes
I can't believe the Dow is back at 2003 levels. All the value gained since the end of the last recession has been lost, and much of it has been lost within the last week or so.
I know the stock market has its ups and downs, but it looks like this entire decade will end with a loss. There is no end in sight, and it worries me the US won't be able to regain its footing. Where is our economy? We've exported and outsources all of our jobs. The nation is over 10 trillion dollars in debt, and I don't think that even counts the money the government owes to the social security trust fund, or the trillion dollars Comrade Paulson handed off to mismanaged investment firms and insurance companies.
I believe half of America's debt is held by China. I was wondering today, how in the world are we going to pay the Chinese back, and what would happen if we get to the point where we can't make our monthly repayments? Will we auction off Yellowstone National Park? Or maybe we'll just declare war on China. It's not such an outrageous plan. Think about it: one of the major complaints people have about the Iraq war is the cost - it costs $40 million per day if I recall correctly. Perhaps in some not-so-distance future, hawks will sell a war against China by saying, "every day we're at war with China, the nation saves $50 billion in interest!".
But I digress.
I'm worried about my 401k retirement plan. I'm depending on it for my retirement. I certainly can't rely on social security; it may not be around when I'm ready to retire.
I know the stock market has its ups and downs, but it looks like this entire decade will end with a loss. There is no end in sight, and it worries me the US won't be able to regain its footing. Where is our economy? We've exported and outsources all of our jobs. The nation is over 10 trillion dollars in debt, and I don't think that even counts the money the government owes to the social security trust fund, or the trillion dollars Comrade Paulson handed off to mismanaged investment firms and insurance companies.
I believe half of America's debt is held by China. I was wondering today, how in the world are we going to pay the Chinese back, and what would happen if we get to the point where we can't make our monthly repayments? Will we auction off Yellowstone National Park? Or maybe we'll just declare war on China. It's not such an outrageous plan. Think about it: one of the major complaints people have about the Iraq war is the cost - it costs $40 million per day if I recall correctly. Perhaps in some not-so-distance future, hawks will sell a war against China by saying, "every day we're at war with China, the nation saves $50 billion in interest!".
But I digress.
I'm worried about my 401k retirement plan. I'm depending on it for my retirement. I certainly can't rely on social security; it may not be around when I'm ready to retire.