More Stuff 'bout the Market
Dutch2
1,590 Posts
Continued concerns regarding the credit crisis, a slowdown in consumer spending, and a further weakening of the US economy sent the Dow down more than 7% on the day, Oct. 9, 2008. This date also marks the one-year anniversary of the current correction. The Dow put in its record high of 14,164.53 back on October 9, 2007. Today, the Dow closed at 8,579.19 -- down 39.4% from its one year old peak. For some perspective on the magnitude of the current decline, the first year of the current correction has been more severe than the first year of any correction since 1900 -- and that includes the correction that began in 1929.
October 10, 2008 the Dow closed at down 128 at 8541.
Hey Ray... checked your 401(k) lately.... I'm gonna have to work forever. We can forget about the baby boomers leaving the work force in the near furture.
October 10, 2008 the Dow closed at down 128 at 8541.
Hey Ray... checked your 401(k) lately.... I'm gonna have to work forever. We can forget about the baby boomers leaving the work force in the near furture.
Comments
I hope retirement is overrated - since we may never get the chance to find out! x:-(
I keep praying things will rebound...
OK, I just paid off my credit card today. My house will be paid for next February. What, me worry?
"you got to know when to hold'em, know when to fold'em, know when to walk away, know when to run."
If you had purchased $1,000 of AIG stock one year ago, you would have
$42 left.
With Lehman, you would have $6.60 left.
With Fannie or Freddie, you would have less than $5 left.
But if you had purchased $1,000 worth of beer one year ago, drank all of
the beer, then turned in the cans for the aluminum recycling REFUND, you
would have had $214.
Based on the above, the best current investment advice is to drink
heavily and recycle.
It's called the 401-Keg Plan
Heck, they may kill the messenger.