Quite a slide in stocks today, huh? As for me, I’m congratulating myself on shifting all my 401k funds from stocks to bonds just yesterday. I’m not sure that this move, in the end, will really save my 401k, but I was seeking some means of avoiding the crash in value I had back in 2008.
So, what now? Do we keep crashing, or does something happen to make it all go away, at least for a while? I honestly don’t know – but over at Zero Hedge a dire warning that there is no way out:
…Nothing from 2008 has actually been fixed. Faith and trust do not exist in the financial system anymore. Everyone knows the deal… they just don’t want to admit it as it means GAME OVER for the system as we know it.
Which is why now that the next round of the Financial Crisis has hit, there’s really nothing the Fed or anyone can do about it. They had their big chance to fix things in 2008 and failed. This time around, no one will believe the Fed can fix anything. And what’s coming will make 2008 look like a joke….
Could be – but I still think that the Federal Reserve and the US Treasury can pull a couple more rabbits out of the hat. They can’t fix it, but they may be able to juggle the financial balls until after election day, next year. Which is, by the way, the primary aim of the Ruling Class…keeping things together until after the election and hoping that no TEA Party-backed candidate wins the White House. Their ultimate nightmare is a President who will actually change the system…the corrupt system, that is, which benefits the Ruling Class.
As for me, I admit to a tremor of fear today … I work at a firm highly sensitive to things like stock market crashes; this recession could become a depression right quick (on the “a recession is when your neighbor looses his job, a depression is when you lose yours” theory). But, with all that, things will be as they will. We’re in one heck of a mess – the end of Big Government liberalism will not be easy and it won’t be pretty. Decades of living by lies has to be paid for…and we who are in the work force today will just have to pay. But, also, we must change things…so that the children and grandchildren have that better future the liberals of the 60’s told our parents we’d be living today.