OldLady
Diamond Member
- Nov 16, 2015
- 69,568
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I have not got a clue what you just said except the first three words, and I'll trust you on the rest. I've got no 401K--hoping to croak before I can't work anymore.Yes. Very bad. 6 trillion dollars has been wiped out this week. It's very bad for your 401(k).Is that bad?The panicked herd has caused the Dow to drop another thousand points today.
The Dow is down 16% from its high. We are a little over a thousand points from an official bear market.
God only knows how many derivatives are tied to bond spreads and interest rate swaps and how many trillions in nominal value they are. There could be a bank or hedge fund out there about to go all LTCM on us and threaten the entire financial system.