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7 Votes
38 Comments
All that money you've lost - where did it go?
News Type: Event — Seeded on Sat Oct 11, 2008 9:03 PM EDT
Article Source: msnbc.comadvertisement
Trillions in stock market value - gone. Trillions in retirement savings - gone. A huge chunk of the money you paid for your house - gone.
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{"commentId":3441767,"authorDomain":"jchri66"}
Your money started disappearing in Oct 07. That was when the big dogs started pulling their money out of the stock market slowly to cause a "soft landing". Have you noticed that since Oct 07 till just a month ago the Dow dropped 3000 points?? Did you hear crys and alarms then from the media or the government? No. But, the Dow drops another 2000 and everyone goes nuclear.... Hmmmm, seems a little manipulated to me. All the big dogs were out by a month ago and then they let all the little guys take the fall. We are also FINALLY seeing the Dot Com fake money disappear. Look at the Dow average from 1970 to now. You will see the bubble that was created during the Dot Com never really burst. Remember how the feds lowered those interest rates around that time to keep it all going? Greenspan saved us right?? No he just allowed the money to be shifted to real estate and that burst. We are finally getting rid of the bubble from the 90's and like I said the big dogs were allowed to pull out ahead of everyone without the alarm going off. Where did the big money go?? You don't have to look real hard and you'll find it. Hint.... it's not in gold, that's a bubble right now and only a fool would invest in it.
{"commentId":3441767,"threadId":"386292","contentId":"1987730","authorDomain":"jchri66"}
- 1 vote
#1 - Sat Oct 11, 2008 9:03 PM EDT{"commentId":3442083,"authorDomain":"stuffsaid"}
There is a lot to be said for the traditional piggy bank, lipstick or not.
{"commentId":3442083,"threadId":"386292","contentId":"1987730","authorDomain":"stuffsaid"}
- 1 vote
{"commentId":3442864,"authorDomain":"techie123"}
I cannot totally agree with you on your theory that the money lost in distressed financial stocks didn't get into someoneElse's pocket. For instance, 3 years ago a financial institute purchased tons of sub-prime mortgage packages, and seemed doing well and the stock hit $100. My 401K spent $1,000 and purchased 10 shares of the stocks for its actual worth probably at $60. A big portion of the extra $40 went to the crooks in the financial institutes who purchased and packaged the sub-prime loans as their huge compensation packages including exceptional bonuses. Another portion of the $40 went to fund the people who borrowed the sub-prime and spent it on big house or purchased a fancy car that he/she couldn't afford in the first place - and you and I only dreamed but never thought we can afford. The borrower enjoyed the house and the car that he/she couldn't afford on our money. Now the stock went down to $60 a share as its real value, and we are paying for that - my 401K has lost $400 as the expense for their (the financial institute crooks and the sub-prime borrowers) enjoyment on my money.
{"commentId":3442864,"threadId":"386292","contentId":"1987730","authorDomain":"techie123"}
- 1 vote
{"commentId":3443076,"authorDomain":"esromel"}
{"commentId":3445028,"authorDomain":"gmichael2000"}
You're more right than you know. Watch Zeitgeist and Zeitgeist: Addendum to confirm your suspicion. You might want to skip the introductions. They are 13:45 and 4:05 long respectively.
{"commentId":3445028,"threadId":"386292","contentId":"1987730","authorDomain":"gmichael2000"}
{"commentId":3441938,"authorDomain":"pgsmock"}
You mean like "fool's gold"? Yeah, but it's prettier!
I was agreeing with the article that money used to be backed by something solid, like gold, before paper money was developed. But Jack, you are right about all that fake $$ disappearing, and investors left holding the bag.
{"commentId":3441938,"threadId":"386292","contentId":"1987730","authorDomain":"pgsmock"}
- 1 vote
#2 - Sat Oct 11, 2008 9:17 PM EDT{"commentId":3441990,"authorDomain":"lmaccarato"}
Yep, they stuck it to the working guy again. All those wonderful 401 K funds contributed from the workers paycheck are now stuck, the rule is you cannot roll the funds unless you leave the company where you work. So do you quit your job and take whats left of your 401K, rolling it into a $250,000.00 limit protected IRA or do you keep your job and see wage reduction, benefit reduction etc. in order to keep working? They hung the woker out to dry. The big guys already moved their money, you are right, it's the smaller portfolios that are falling due to rules implemented to tie the working man's options. Gone with the Wind or should I say a swipe of the pen ?
{"commentId":3441990,"threadId":"386292","contentId":"1987730","authorDomain":"lmaccarato"}
#3 - Sat Oct 11, 2008 9:21 PM EDT{"commentId":3442671,"authorDomain":"JollyRogers"}
Can't help you with the past, but in the future if I was you and your company gives you so few options in their 401k program I would stop using the program and instead open an IRA at a bank or credit union and put my money into CD's. Most company 401k's have a money market fund option though. I'd check that out.
{"commentId":3442671,"threadId":"386292","contentId":"1987730","authorDomain":"JollyRogers"}
{"commentId":3443954,"authorDomain":"tp-lin-stu"}
{"commentId":3442014,"authorDomain":"tbailey-2"}
Yes, the value of stocks is deflating, but in order to sell a stock, someone has to buy it. So, someone is buying these stocks at much lower prices than they were previously sold. Presumably, these people will do well when the stock market resumes its upward climb. This is why Warren Buffet put $4B into GE stock. He figured it was a good buy at this time. Of course, $4B is a drop in the bucket for the overall market. My question is, do we know who the buyers are in this market? What proportion are Americans, and what proportion are foreign interests? Just curious.
{"commentId":3442014,"threadId":"386292","contentId":"1987730","authorDomain":"tbailey-2"}
- 1 vote
#4 - Sat Oct 11, 2008 9:23 PM EDT{"commentId":3442297,"authorDomain":"jchri66"}
Well it's part all the average guys getting sold the 10% interest on your hard earned money "hold it for the long term" retirement 401ks. There's that couple hundred bucks out of my paycheck every month right on time for the investment bankers to take their cut. So we are supposed to hold steady right now during the down spin???... so we can retire with $2,000,000 in our 60's. That's nothing compared to what people made off this bubble.... think about it..... You can't time the market, true...... but you can also see we are being made fools......
{"commentId":3442297,"threadId":"386292","contentId":"1987730","authorDomain":"jchri66"}
- 1 vote
#5 - Sat Oct 11, 2008 9:41 PM EDT{"commentId":3442398,"authorDomain":"Barb-273855"}
Bush is such an a-hole. He's driven every company he's ever been the head of into the tank and now he's done the same with this country. The word "despise" doesn't come readily to me, but I despise this man. Arrogant, ignorant, self-entitled and privileged...when are you Republicans going to wake up out of your stupor and realize "your party" doesn't give a whit about you. See you in the soup lines...
{"commentId":3442398,"threadId":"386292","contentId":"1987730","authorDomain":"Barb-273855"}
- 1 vote
#6 - Sat Oct 11, 2008 9:48 PM EDT{"commentId":3442420,"authorDomain":"priceracing"}
I can see plainly that there are still a batch of folks out there who lack common sense! Not for one minute do I believe that that money just disappeared into thin air! It wasn't "thin air" when that client handed a broker X amount of dollars or a check out of his checking account to buy a particular stock! That was "real money"! But by the time the broker get's his fee and all of the other fees involved in moving that money around to try and make it worth more the losses of the client are absorbed by other real people. The "thin air" theory is simply "inflation" taking its toll on one's money! It's a big viscious circle that never ends! I just hope that America looks at this busted bubble in an educational manner rather than in a political manner. A hard look must be taken at America's labor force, America's massive industrial and commercial enterprises and we must realize not everyone in America can be a "millionaire"! We have so many people in this country now that are so smart they have "outsmarted" themselves because of their lack of "common sense"! Another thing to keep in mind is that the fact is, has always been and will always be, that 20% of the people do 80% of the business! Now, put those words in your Cheerios in the morning, take a nice Sunday nap and wake up Monday morning with a positive attitude and it can do nothing but help!
{"commentId":3442420,"threadId":"386292","contentId":"1987730","authorDomain":"priceracing"}
#7 - Sat Oct 11, 2008 9:50 PM EDT{"commentId":3442460,"authorDomain":"JollyRogers"}
Sorry to contradict you Jack, but most of the dot coms were on the Nasdaq. Looks like it made a pretty big drop in 2000 to me.
{"commentId":3442460,"threadId":"386292","contentId":"1987730","authorDomain":"JollyRogers"}
- 1 vote
#8 - Sat Oct 11, 2008 9:53 PM EDT{"commentId":3442482,"authorDomain":"arsine3463"}
You haven't made or lost a dime until you sell your stock.
{"commentId":3442482,"threadId":"386292","contentId":"1987730","authorDomain":"arsine3463"}
- 1 vote
#9 - Sat Oct 11, 2008 9:55 PM EDT{"commentId":3442509,"authorDomain":"howcor"}
If we don't have to sell we shouldn't. I'm 67 and fortunatly I don't have to sell my IRAs at this time. I watched their value drop after 9/11. And I then watched them rise again and excede their pre 9/11 value by 2005. Their value will rise again after this meltdown and I will have what I need for my seventies. I have faith in America's ability to bounce back. Panic is the driving force of today's problems. Just hold on for a bumpy ride and don't panic or lose faith. Bush is not the enemy. You are using him as a scapegoat instesd of putting blame where it belongs. The Senate and Congress have more control of the economy than the president does.
{"commentId":3442509,"threadId":"386292","contentId":"1987730","authorDomain":"howcor"}
- 1 vote
#10 - Sat Oct 11, 2008 9:57 PM EDT{"commentId":3442552,"authorDomain":"postingstuff-com"}
No, something is not right, I check my wife 401K and she lost over $6,000 and my mother lost and someone else lost over $10,000. That is not right. You should only lose what you put in. Or maybe you should only lose what you gain from the stock. It should not be both. Maybe we need to change this stock game. We as investers should have that option to transfer our gains to another account. To have it separate from what we put in. In this way, we can not lose it all. I don't understand why we have 401K managers to manage our money. They would say, "Don't take your money out, ride it out". So, for example if a dam have a leak or bust open. What would you do? Pluck the hole or fix busted dam. If you can't fix it you're try to move has much water out before the drain out. That is the common sense.
{"commentId":3442552,"threadId":"386292","contentId":"1987730","authorDomain":"postingstuff-com"}
#11 - Sat Oct 11, 2008 9:59 PM EDT{"commentId":3442584,"authorDomain":"Vuenbelvue"}
Jack-260773
Your saying that stock brokers that gain our trust have been following the corporate line and allowing the big investors to sell out and then letting the small investors take the hit. I accused Citicorp of dictating to Smith Barney, their subsidy, this exact same thing in 2007 when American Home Mortgage was the first company to fail in the early retail estate bubble burst. They said I was a conspiracy theriost and that those type of things didn't happen. We settled on 1/3 of what I lost for the lies and antics of the Smith Barney broker. I stayed out of the stock market totally since then but now have friends appearing daily saying how much their 401k has lost. I shed their credit card invitations each time they come in and gloat that their stock is below $20.00. I know the CEO will walk one day with his $200 million in golden parachute money from the Board of Directors but I hope he loses his hair over it. ;
{"commentId":3442584,"threadId":"386292","contentId":"1987730","authorDomain":"Vuenbelvue"}
- 1 vote
#12 - Sat Oct 11, 2008 10:02 PM EDT{"commentId":3442661,"authorDomain":"jchri66"}
That's OK but you really aren't when you look at the historic chart of both. Just because the tech companies were mainly on the Nasdaq doesn't mean the tech money didn't inflate everything else. The tech companies haven't ever really recovered from the tech burst but the Dow waivered and never took the real hit? Look at the historic trend since the 1970's. Look at the "irrational exuberance"bubble that hit in the 90's. Pets.com didn't sell Cisco routers they sold regular brick and mortor items from companies probably listed on the Dow. Everyone got a boost from the dot coms.
{"commentId":3442661,"threadId":"386292","contentId":"1987730","authorDomain":"jchri66"}
#13 - Sat Oct 11, 2008 10:07 PM EDT{"commentId":3442699,"authorDomain":"mmahoney71"}
What can we do... a proffessor from Yale is telling us we all just lost 30-50% of our investments... and that this market will never come back.... This article is part of the problem with this whole bubble. The activity in the market is a huge correction yes, but a lot of it is caused by the media scaring the hell out of everyone... I must say this election, and pro Bama - smear Bush Media blitz is hurting Americans... don't get me wrong, I can not wait until Bush leaves, and Obama takes over... but the media has destroyed this country- I am not arguing to appreal Freedom of Speech, just look at the headlines... look at all the biased comments, news is not being reported... politiking media is trying to scare people to vote for Obama, it was needed , but MSN, CNN, AOL, etc... Have done our country a great disservice... So now people that are 50 + are in grave danger, and their retirements and futures were compromised by the political agenda of our news networks... Don't be mad at Bush, be mad at the media tycoons, that abused their power to destroy the financial well beings of millions of Americans... yes some were able to escape this hit, but the majority stayed, and have lost the security that they worked their whole lives full! So great job American Media, your sensationalism and biased reporting succeeded in destroying our country , I hope you all begin to realize that a true proffesional reporter or writer has a responsibilty to ethically preserve the truth vs. casting fear and destroying futures... to the writer that wrote this slop... go hang out at Yale and try to determine what else you can destroy in America! Great Job, "Ask not what your country can do for you, but what you can do for your country! " JFK would not want either of you to help... because you are too F-ing stupid!
{"commentId":3442699,"threadId":"386292","contentId":"1987730","authorDomain":"mmahoney71"}
#14 - Sat Oct 11, 2008 10:10 PM EDT{"commentId":3442715,"authorDomain":"doetting"}
The only true wealth one has is his abilities to produce vis others in the group. The root cause to the current troubles is the belief that there was something to be had for nothing in return. Unfortunately, most in government and many in private industry professed it and believed it. Who is John Galt?
{"commentId":3442715,"threadId":"386292","contentId":"1987730","authorDomain":"doetting"}
#15 - Sat Oct 11, 2008 10:11 PM EDT{"commentId":3442729,"authorDomain":"jchri66"}
The market WILL bounce back, I have no doubt in that and faith in my country has nothing to do with it especially in a global economy. I'm saying the bubble you saw in the last 16 years in gone and you will not see a 14,000 Dow for a while.
{"commentId":3442729,"threadId":"386292","contentId":"1987730","authorDomain":"jchri66"}
#16 - Sat Oct 11, 2008 10:12 PM EDT{"commentId":3442755,"authorDomain":"deb-morrison49"}
I agree with Jack 100%. I think the Big Dogs did manipulate this entire catastrophe.
"That's all I have to say about that" Forrest Gump 1994
{"commentId":3442755,"threadId":"386292","contentId":"1987730","authorDomain":"deb-morrison49"}
#17 - Sat Oct 11, 2008 10:14 PM EDT{"commentId":3442854,"authorDomain":"jchri66"}
Do I believe in conspiracies?... not really.. Do I believe a few people with a lot of money in this world can move markets, create bubbles, and then take the profits while those of us are "holding for the long term"? Yes I do.
{"commentId":3442854,"threadId":"386292","contentId":"1987730","authorDomain":"jchri66"}
#18 - Sat Oct 11, 2008 10:23 PM EDT{"commentId":3443009,"authorDomain":"esromel"}
{"commentId":3443031,"authorDomain":"mmahoney71"}
Yeah some people escaped... those with inside information or were in a position to see warning signs that most of us missed... This is panic... of a slight correction... where is unemployment... where is the soup lines... where are the jobs... they are still there... yes many companies now are cutting back- due to the damage caused by the created hysteria of articles and reports like this... America go back to work, invest, educate, and become involved... don't develop your thoughts by reading what "the Experts" say. Yes, be well advised, but do not run with the herd... these jack asses... are just trying market to you... trying to be the sole provider of your informational needs... don't listen to them... talk to to people, at the supermarket, your family members, friends... don't even waste a minute reading defeatest scare articles like this... We live in challenging times, and we will need all Americans to stand up!!! Patton - "If everyone is thinking alike- someone is not thinking!" The drop in the market is panic not financial failure... everyone wants to be heard, doesn't mean that everyone has to listen... turn these guys off... Nothing can withstand the American Spirit, don't go lay down in a alley, and wait for Barak to come pick you up... be strong- stand up!
{"commentId":3443031,"threadId":"386292","contentId":"1987730","authorDomain":"mmahoney71"}
#20 - Sat Oct 11, 2008 10:37 PM EDT{"commentId":3443380,"authorDomain":"tukdave"}
I will be a very happy content individual (one of "MANY" I am sure) when we "ALL" refuse to earn one dime for what we are capable of doing. I know damn well that "God" will never ever forsake me and my brothers and sisters in Christ. We will indeed be filthy rich as far as we are concerned and we do not "WANT" anything whatsoever and forevermore!!! And I will be the first to give everything I have to those in need... for I know that "God" will give me more than I ever need and or want etc...etc...etc... Yup I amofficially on strike from anything at all of this world! Kiss My Ass!
{"commentId":3443380,"threadId":"386292","contentId":"1987730","authorDomain":"tukdave"}
#21 - Sat Oct 11, 2008 11:03 PM EDT{"commentId":3443402,"authorDomain":"tukdave"}
Give the bastards another 700 Billion.... see if I give a flying @!$%# !!!
{"commentId":3443402,"threadId":"386292","contentId":"1987730","authorDomain":"tukdave"}
#22 - Sat Oct 11, 2008 11:05 PM EDT{"commentId":3443418,"authorDomain":"tukdave"}
A matter of fact: My little toddlers have some pennies in their penny banks (more than I do) and where might I be able to send it so that you bastards can go party ?
{"commentId":3443418,"threadId":"386292","contentId":"1987730","authorDomain":"tukdave"}
#23 - Sat Oct 11, 2008 11:06 PM EDT{"commentId":3443500,"authorDomain":"redtbird"}
Folks....what's done is done....am I mad? Of course....beyond mad.....but having just completed "Atlas Shrugged" for the 4th time in several years (it's a BIG read but worth every word) at least I know what to do, and how to do it...I can't wait around for trials, congressional appearances, indictments, blah blah blah....Who thinks that it will happen anyway, and who thinks that the "bad guys/gals" will do penance?? Read the book. You'll have plenty of time. (And manifest your own destiny.)
{"commentId":3443500,"threadId":"386292","contentId":"1987730","authorDomain":"redtbird"}
#24 - Sat Oct 11, 2008 11:12 PM EDT{"commentId":3444683,"authorDomain":"joedechant"}
real good story I hope that the people that need to read this understand it but I dont think that they are smart enough too bad (that is probally why they vote democrat)
{"commentId":3444683,"threadId":"386292","contentId":"1987730","authorDomain":"joedechant"}
#25 - Sun Oct 12, 2008 1:02 AM EDT{"commentId":3444690,"authorDomain":"junk-mailme"}
To this article writer:
What a bunch of BULL you wrote!! You mean to tell me the $$ I invested and lost is just my imagination? What about the money that the CEO's made away with? Those money are REAL and they are spending it right now!!! How much of my imaginary money did you receive to write this article?!!
{"commentId":3444690,"threadId":"386292","contentId":"1987730","authorDomain":"junk-mailme"}
#26 - Sun Oct 12, 2008 1:02 AM EDT{"canLink":false,"threadId":"386292","isPrivate":false}
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