Today, the DOW went down another 600+ in a continuing slide that has us in the 8,500 range which has not been seen for several years. The old comment of 201K rather than 401K is apropos again. It does not have to be this way.
But, for someone who is trying to build for the future, huge returns are not required. Gosh. There are adages up the wazoo about these things. The old story about the grasshopper and the ant comes to mind.
Okay, we all want the freedom of the hopper; who wants to be wrapped in the mantle of working for a large firm? Oh yes, the ant (worker) gets stepped on by the fat cat, usually.
Why the focus on the stock (equity) side of the market which has been allowed to 'derivative' itself into almost oblivion (oh, too extreme as we haven't reached the levels of the early 90s yet - is that where we ought to be?) when more stable approaches are available (albeit humdrum)?
Well, idiocy, for one thing.
We really do need to get away from the gab standard (and Ben and his pals trying to manipulate things) that is behind economics and put in a more realistic basis for money.
What? Yes, this can be defined.
Remarks:
11/20/2008 -- Boon and bust, the way of fairy dust.
10/27/2008 -- Yes, things fell apart for several reasons: fiction, leverage, and more.
Modified: 11/20/2008
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