Bye Bye 401k: U.S. stock futures point to major decline on re-open
LONDON (MarketWatch) — If futures contracts traded on a day when U.S. stocks weren’t even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower. March contracts on the Dow Jones Industrial Average traded 353 points lower to 11,753. -via atrios
Remember the number to watch is DJIA at 10,600 – Chimpy’s reign of idiocy will have come full circle.
I split my 401(k) between T-bills and overseas equities as soon as Bush was re-elected in 2004.
Smart move. I’m just glad Bush didn’t get to put the meager Soc Sec. funds I have in the market.
Let me offer my two cents. I predicted in 2006 that whithin ten years no one save Congress and a few elected officials would have a pension. My pension was unceremoniously taken by my company because Federal Law allowed it. That’s right ,our plan was 86% ‘funded’ yet that all went poof while our senior executives used taxpayer funds($45 million) from the 9/11 federal fund to make their pensions bankruptcy proof yet abrogated my pension.
By the way these business friendly laws were written in the late 70’s and signed by Pres. Carter.
For the 401 k option it is all well and good and my wife and I have been putting money in that for years also but we can’t make up for the broken promise of almost 20 years with a company.
Jason, you have no secure Social Security funds and neither do I. The Supreme Court ruled over forty years ago against that concept.
Last monday some of the top American banks went shopping in Asia & Arabia to shore up their deposits. In Sundays new york times there is a story about how America is being bought up by foreignors. This is the sad state of affairs the Republican party has put Americans in.
http://www.nytimes.com/2008/01/20/business/20invest.html?_r=1&scp=1&sq=foreigners buy stakes in u.s. at record pace&oref=slogin
AMERICA, sold to the Asians(China & Japan) and the Saudi Arabians Bush’s buddies. This will be the issue that will sink them come November.
Even the real conservatives will vote them out. The Club for greed promotes this type of practice. There will be nothing left for our kids.
yup, and shame on University of Delaware for putting a pacifier article into the WNJ this weekend to say, there really isn’t anything wrong with commie china and saudi sultans owning our banks.
Remembering then Treasury Sec. Snow, former CSX exec., wanted to sell our ports to Dubai and the outcry that elicited, WTF is an appropriate response to these monitary policies that our congressmen FULLY supported during the Bushie reign.
I still have not figured out an explanation for this, but just based on my experiences talking with several fundie friends and acquaintances, the Dubai ports deal was the moment the evangelicals began to turn against Bush. Odd, but true.
man, can you imagine if SS would have been privatized….
when protack offers his “2 cents” is that literally? I’m sure some of his debtors would take him up on that offer