October 8, 2008
I remain unconvinced
this buyout program is a good idea. It probably has no chance at reversing this recession, let’s face it, we are in a recession. The S&P 500 has dropped 400 points in a matter of months. We are not in a “dip” anymore, but a good ol’ fashion recession. You hear talk of sep ira and 401k valuation problems, which is a vague way of saying that people are losing half the value and more of their retirement savings. These things don’t happen in temporary reversals, but long term bear market turns. Well, capitalism will prevail, and eventually there will be an economic boom.
