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I think we are headed for another recession that will put the big one to shame.

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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:24 AM
Original message
I think we are headed for another recession that will put the big one to shame.
Having said that how are all the pension plans, 401's etc going to fair. Is the money that folks who have invested in various pension plans safe or is that money going to all evaporate as gasoline does on hot asphalt?
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sutz12 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:25 AM
Response to Original message
1. Frankly, I'm kind of afraid to look at mine.
:shrug:
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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:28 AM
Response to Reply #1
5. some friends of ours have been working toward their retirement
their whole work lives 40 years or so and I see it in their eyes and I hear it in their voices the worry if it will actually be there when they themselves get there
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closeupready Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:27 AM
Response to Original message
2. I think so too. What's going to happen is that inflation is going
Edited on Tue Nov-27-07 11:27 AM by closeupready
to eat away at the value of money which has been invested in 401(k)'s. I don't know how much value these funds will lose, but it will probably be significant.
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BOSSHOG Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:27 AM
Response to Original message
3. And in typical gop fashion
they will be around in 09 to blame the democrats for every bit of it. I have about 30% of my IRA's in Mutual Funds and I keep a close eye on them. Can transfer them quickly but that would make me a part of the problem.
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antigop Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:28 AM
Response to Original message
4. Pension funds seen posting huge losses from subprime investments
Edited on Tue Nov-27-07 11:28 AM by antigop
http://money.cnn.com/news/newsfeeds/articles/newstex/AF...


Over the past several years, U.S. pension funds have been among the top investors in the mortgage-backed securities (MBS) and collateralized debt obligation (CDO) markets, along with their real-money partners, insurance companies and money managers. After years of funnelling money into MBS and CDOs -- portfolios of mortgages bundled and sold as debt securities -- the total size of pension funds' securitization holdings are massive.

With thousands of pension funds invested in housing debt either directly or through hedge funds, the figure could add up to tremendous losses for many of the nation's employees.

Thomas Martin, president of the Homeowners Consumer Center, a Washington, D.C.-based consumer advocacy group, estimates that pension funds will take a $1 trillion hit from the devalued securities. 'This is going to be scary,' he said in an interview with Thomson Financial News. 'We think the Fed will have to step in and bail out at least the pension funds.'
The California Public Employees Retirement System (CalPers), the nation's largest public pension fund with more than $255 billion in assets, has a residential housing portfolio of about $2 billion. Spokesman Brad Pacheco said CalPers does not have any loss estimates yet. 'As far the subprime is concerned, we are watching this closely,' Pacheco wrote Thomson Financial in an e-mail.
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mikelgb Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:28 AM
Response to Original message
6. ugh i am so bad at macroeconomics... what does this mean for me?
I live paycheck to paycheck

it has been getting harder

thank god for thanksgiving leftovers

don't know how to afford christmas
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K Gardner Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:34 AM
Response to Reply #6
8. I was wondering that, too..
I excel at many things.. math & economics not being one of them. So, while I read all these forcasts about markets and currency and funds, I don't personally have a lot of those things. Most of the people I work with and know do live paycheck to paycheck. Would be nice if someone who understood what this impending crash will mean for the "working man" would weigh in and simplify for us :-)
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Highway61 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:31 AM
Response to Original message
7. My $$$$
would have been better off in a savings account getting 4 -5%. The market SUCKS since 2001...period. Assholes on the MSM talk about EVERYTHING but the concentration of wealth at the top. Until there is somewhat an even distribution...we are all fucked.
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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 11:44 AM
Response to Reply #7
9. It sure worries me I know that
the question is then, will we ever do it, take the bull by the horns, that is and start demanding answers and just generally kicking asses and taking names. willie the polilicker's sure aren't going to do it for us thats plain to see so its left up to us.
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Highway61 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 12:11 PM
Response to Reply #9
10. The ONLY one who would make a difference
is Dennis. He can't be bought. I seriously doubt that he will make it though...the cards are stacked against him. You have these bleach blonde bimbos for "journalists" on the MSM talking Hillary 24-7. Then when she get's the nomination it's gonna be a field day for the GOP. You can almost predict how it will unfold. Meanwhile, here are folks like you and I sinking...slower and slower.
Sometimes I just want to go to Walton"s mountain and say fuck it all :cry:
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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 12:18 PM
Response to Reply #10
11. I'm hearing you
and I'm agreeing with you. with each days realization more and more that Al Gore isn't going to run on top what you just said about Dennis is depressing for sure and if it wasn't for our future generations I would just throw my hands up and quit, check out and leave everything to the wolves but for our grandchildren's sake I will continue to struggle onward.
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Highway61 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-27-07 12:24 PM
Response to Reply #11
12. and I agree with you
Granchildren are on their way here as well and I will not abandon ship. I vent a lot and get discouraged but there is still a lot of fight in me. It's just that I am getting so tired.
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