And read the predictions of calamity on my Gmail, my worry of the financial future continues to mount. I fear most for those who have planned and invested to retire within the next five years. Younger workers, even if the market collapses, may have time to recover much of their investment while older people can have their entire fortune swept away in the market crash and not have time enough to recover.
I am getting information from many so-called financial experts, all of whom predict the market to crash, wiping out most 401K plans that have most of their funds in stocks. They point out that the wealthy have already left the market and put their money in safer fixed funds.
Many of us in the past have believed that stocks go down but eventually they recover. Conditions in the United States and the world are different now. The highest the Dow average has ever been was on October 9, 2007, when it closed at 14,184, That is five years ago and the average now is above 12,000 and falling.
Too many conditions are bad and worst of all we have Obama. If there's any action he can take to harm the economy, it seems he will take it. During the campaign he promised to lower the corporate tax from the world's highest at 25 per cent. Now, he is talking about more taxes on corporations which will of course reduce profits and hinder hiring of workers.
I am not a financial guru, would never pretend to be one, and would not want anyone to be influenced by what I have said but would get their information elsewhere. But for my self, I would accept my almost 10 per cent loss since Obama's election and put all my funds in a fixed and safe investment.
I am getting information from many so-called financial experts, all of whom predict the market to crash, wiping out most 401K plans that have most of their funds in stocks. They point out that the wealthy have already left the market and put their money in safer fixed funds.
Many of us in the past have believed that stocks go down but eventually they recover. Conditions in the United States and the world are different now. The highest the Dow average has ever been was on October 9, 2007, when it closed at 14,184, That is five years ago and the average now is above 12,000 and falling.
Too many conditions are bad and worst of all we have Obama. If there's any action he can take to harm the economy, it seems he will take it. During the campaign he promised to lower the corporate tax from the world's highest at 25 per cent. Now, he is talking about more taxes on corporations which will of course reduce profits and hinder hiring of workers.
I am not a financial guru, would never pretend to be one, and would not want anyone to be influenced by what I have said but would get their information elsewhere. But for my self, I would accept my almost 10 per cent loss since Obama's election and put all my funds in a fixed and safe investment.
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