Wednesday, September 17, 2008
This is bad for many reasons:
1. Loosing more and more jobs in American, un-employment is up to a staggering 6.1%!
2. All of the money that we have in our 401k's and trust funds can potentially be lost in the closing of these companies.
3. People are not trusting these companies, and taking ALL of there money out of the hands of these idiots! So they don't loose there money!
I am worried too, I have a 401k and other savings accounts, and I have already lost over a thousand dollars based on my portfolio choices. I choose 10 companies when I started my 401k to "diversify my portfolio" well I guess it wasn't divers enough! Because I am STILL LOSING MONEY! Stupid economy taking all my money...I would love to just pull all of my money out of there, but I can not, since it is a 401k, so I get fined like 10% of it if I want to pull it out...THANKS!
So I have just stopped putting alot of money into the account, I only put in 1-2% of my check, so that I am still buying shares at a very low cost, in hopes that one day when the economy does go back up, AND IT WILL! Then I will be making thousands of dollars off all of the shares I am buying now at such LOW prices...right? I don't know, I think that is how it works...
Either way do not pull out your money folks, the world is not coming to an end, we are still the most powerful, and money rich country in the world, and will continue to do so for at least another 100 years! So no worries!
Do you all think that we are in trouble? Will this cause a Great Depression? Like in the 20's.
5 Reasons that AIG Failed
Closing AIG Would be Catastrophic to the World Economy
AIG Gets Lifeline from the Tax Payer, YOU! (if you are an American)