:1poke: You do know you have a choice what you invest your 401k in......That I do agree My 401k= crap stocks= crap :crying:
So unfortunaltly we are all on the same boat. Hopeing it doesn't sink.:faint:
Back in the dot com bust, people were throwing their salary into stocks and racking up margin debt. However, you could only exceed maybe 3 times the value of your account.This happened only not as bad years ago, remeber? When all the dot coms dot bombed, because everyone thought that having a website literally made you a viable company.
I wanna start "Awesomebellyjewlery.com" but I'll need about 6 million to get it started. IPO anyone? :]
That got us into a huge mess, that we pulled ourselves out of.
Amen BrotherBack in the dot com bust, people were throwing their salary into stocks and racking up margin debt. However, you could only exceed maybe 3 times the value of your account.
Now comparing today’s credit crisis, people were borrowing well beyond their salary (i.e 10 times their annual income).
Sure, the day is coming when this all blows over. However, today’s crisis made the dot com look like a speed bump.
When disposable income becomes more in line with asset values, that’s when we can expect the economy to recover. Or the government can assume all debt and try to stimulate the economy, but it still leaves the problem of how we are going to pay off the national debt (only a matter time when debt becomes too big to be paid).
I was too chicken to play short last year. I just liquidated to all cash back in July of 08. Now, I’m just playing the waiting game on who survives and waiting till at least 3rd quarter of 2009 before I think of buying.im still short since 13000, its the end of the fucking world.