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Could we not, please, have gloating over the drop in the Dow?

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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:07 PM
Original message
Could we not, please, have gloating over the drop in the Dow?
Thanks. I'm sure we'll all appreciate that.
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RebelOne Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:09 PM
Response to Original message
1. I think that those with IRA and 401K accounts are not gloating. n/t
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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:09 PM
Response to Reply #1
2. I'm sure they're not. Very sure.
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GodlessBiker Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:10 PM
Response to Original message
3. Yes, the retirement of many, either directly or indirectly, is tied to the market.
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AndyTiedye Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:10 PM
Response to Original message
4. The Robber Barons Who Were Shorting Everything Made a Killing, of Course
That would include certain teabaggers and their paymasters. :grr:
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The Velveteen Ocelot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:10 PM
Response to Original message
5. A lot of people (regular ones, not rich people) have 401Ks
that are taking a serious hit. This is their retirement money. It is absolutely no cause to gloat, and I should hope no DUer would be so insensitive.
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murray hill farm Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:14 PM
Response to Reply #5
10. Today...what little was left in my 401K...
is less than 1/2 it was a week ago. Serious stuff for me!
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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:44 PM
Response to Reply #10
26. You hold the same number of units today as yesterday. Not a loss until you cash in.
Maybe it will bounce back
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indurancevile Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 04:20 PM
Response to Reply #5
32. 1/3 of Americans have no savings/retirement. 1/2 have $2,000 or less in a 401K.
Edited on Mon Aug-08-11 04:24 PM by indurancevile
“(Bloomberg) The average 401(k) fund balance dropped 31 percent to $47,500 at the end of March 2009 from $69,200 at the end of 2007, according to a Fidelity Investments review of 11 million accounts it manages."



http://www.mybudget360.com/retirement-myth-401k-myth-wall-street-putting-middle-class-retirement-at-risk-social-security-stopgap/

It's only the top 10-20% that can expect serious income from their 401K in retirement. 1/3 of social security recipients depend on it for 90% or more of retirement income, 2/3 for 50% or more.

For most people 401Ks have proven to be a scam when compared to the guaranteed pensions of the past.
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Dawson Leery Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:11 PM
Response to Original message
6. I told my parents to roll their funds to money market/cash. They did.
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CountAllVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:23 PM
Response to Reply #6
17. thank god they listened
Your parents have no way to replace what they have. My old aunt is 82 and has everything in it. You cannot talk to her about "it". *sigh*
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 04:15 PM
Response to Reply #6
31. Good, but..
money markets might get a little dangerous here.
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Dawson Leery Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 04:25 PM
Response to Reply #31
33. Which is why it is in cash right now.
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Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:11 PM
Response to Original message
7. But
it's so enjoyable to gloat over the harm done to others! It's so much fun to poke at people who have worked hard and saved all their lives and see their pensions evaporating before their eyes!

OK, I'll just gloat at myself for the amount I've dropped.
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dionysus Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:11 PM
Response to Original message
8. those imbeciles don't care that working people and pensioners are invested in the market.
:shrug:
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hulka38 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:13 PM
Response to Original message
9. Dobble Dip
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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:15 PM
Response to Reply #9
12. Dobbie? What do house elves have to do with this?
Maybe Gringott's Bank is responsible, eh?
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hulka38 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:25 PM
Response to Reply #12
19. Allow me to explain;
like Dobbie, the stimulus package meant well but was far too small and disappeared almost as soon as it arrived.
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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:26 PM
Response to Reply #19
20. Ah, but in the end, Dobbie saved the day.
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hulka38 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:28 PM
Response to Reply #20
23. It was a really nice story.
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RegieRocker Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:14 PM
Response to Original message
11. Not all have investments in the market. Therefore not all will appreciate it.
I haven't seen anyone gloating over anything market related ever. Some do feel that a market investment puts one into collusion with big business and the very same corrupting our government.
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dtexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:18 PM
Response to Original message
13. Hey, I'm sure not gloating for my TIAA-CREF.
But on the other hand, there is always the I-told-you-so moment to savor.
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woodsprite Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:26 PM
Response to Reply #13
22. Hubby and I are both in TIAA-CREF.
Edited on Mon Aug-08-11 03:27 PM by woodsprite
He's 100% conservative investment, I'm something like 87% conservative. Looks like I should have maybe switched out to 100% last week when we were talking to our rep. They were trying to talk us into divying hubby's percentage up to hit the stock market harder. They said "Now's the time to do it. You'll have 12 yrs to recover." Yeah, right...

I hate having to deal with finances. At this point, stuffing the mattress would give almost as much security and interest. I don't know what effect today's and Friday's activity has had on the bottom line. I just don't want to think about it.
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Liberal_in_LA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:44 PM
Response to Reply #13
27. I'm a TIAA-CREFer also. n/t
:-(
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Cirque du So-What Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:18 PM
Response to Original message
14. People are gloating?
I recently did an overhaul of my 'Ignore' list; looks like I got the right ones!
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JNelson6563 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:20 PM
Response to Original message
15. Sickening ain't it?
Not sure why you spend so much time here anymore MM, must be the size of the audience. To see such glee at this is pretty much making it unavoidable for me to really see DU ain't the place I loved for so long.

Julie
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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:24 PM
Response to Reply #15
18. I've invested a lot of words in this site. I think I'll stick it out here.
:shrug:
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CountAllVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:21 PM
Response to Original message
16. only the Tea Party gloats
"I am not a Tea Party member. I have never been a Tea Party Member. I have never been involved with the Tea Party." :mad:

If I was, I wouldn't be here right now, that you can believe in.

:kick:
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WilliamPitt Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:26 PM
Response to Original message
21. That would be a nice change of pace.
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MrDiaz Donating Member (365 posts) Send PM | Profile | Ignore Mon Aug-08-11 03:40 PM
Response to Original message
24. GLOAT???
Over what last i checked, OBAMA is the one who signed this debt deal into law. Am I wrong?
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L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:41 PM
Response to Original message
25. Not my problem if people want to play the Wall Street slots.
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dionysus Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:53 PM
Response to Reply #25
29. you can feel the compassion....
:rofl:
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RegieRocker Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 04:05 PM
Response to Reply #29
30. Lack of compassion is not gloating.
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ozone_man Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 03:48 PM
Response to Original message
28. WS is a casino.
If you gamble, then you have to be willing to lose.
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RC Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 04:34 PM
Response to Original message
34. A couple of years ago, I pulled my 401k from the stock marked and
put in in a Money Market account. This is like a CD, only it pays a bit more and is safe from stock market variances.

I am now retired and don't have to worry about this kind of shit. Check with your bank, if the stock market recovers - Don't switch now.
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proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-08-11 08:48 PM
Response to Original message
35. What gloating?
I think you are confusing this site with another where they ARE gloating.
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