Oct. 7, the DOW is down 270 points

Bail out shmail out...

The Dow Closed down again today (10/7/08). Down 508 points. The
multiple session drops over the past 3 weeks reminds me of the story
of how a Frog can be boiled to death without knowing what hit him if the
pot is heated in small increments. I don't know if there is any truth to
this, but the story came to mind when I looked at the dramatic decline
in some 401K accounts.

The people I feel bad for are those who retired in the late 1990's and
are living off of a pre-determined percentage of their portfolio's value.
Each month their check is getting smaller, while inflation eats a larger
portion of the shrinking income. It's a living hell for some, right when
they're supposed to be enjoying the fruits of 40 years hard work.
-cwm



[edit on 7-10-2008 by carewemust]