For the last month, I have been on hyper alert concerning the stock market cascading, crashing. I am glued to the television during the week, watching CNBC incessantly. I have become familiar with all the programs, and all the announcers, and they are light years ahead of any analysis that Fox News or CNN could hope to provide. C thinks I am crazy, thankfully he has not been in town recently to witness my latest fixation.

Last night, when predictions all week were optimistic that the market could rally Friday before the long weekend, instead it was the most volatile day in its 112 year history, fluctuating almost 1000 points. 1000 POINTS? Simply incredible. So when the rally did not materialize, an incredible throbbing headache replaced it instead. I thought my head was going to explode. You see, all my retirement money is tied up in work related retirement accounts, and the account has lost over 30% of equity in the past month. I have maybe 20 years before I need it, and I am dug in riding this out, but regardless it is quite unnerving. Its my own fault for tying everything up in high risk mutual funds. But if this comes back in the next 10 years, I am going to put everything into low risk fixed return accounts and CD’s. Screw all this madness, I can’t handle it. I truly feel sorry for those retiring in the next couple years.

So where is the leadership?
Who is taking control of this situation? Apparently no one. And most importantly, how the fuck did it come to all this? And who are the people that perpetuated this crime? These people should be drawn and quartered and laid out for public display.

And this video calls for over 100 small banks to collapse soon

Gawd I hope my payroll bank isn’t one of them. Thank goodness the markets are closed for the next 3 days, I am going to submerge myself in football instead.


~ by maringouin on Saturday, October 11, 2008.

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