Tuesday, October 07, 2008

Retirement accounts lose $2 trillion

American retirement accounts have lost $2 trillion dollars over the last 15 months. Now, think about that for just a minute. TWO TRILLION DOLLARS. Gone. Just vanished as though it never existed. And, technically, it never really did exist. It was just on paper. And that paper became worthless and now that money is gone.

It's pretty amazing when you think about it. $2 trillion just gone. It's not like someone else got the $2 trillion. It just disappeared. And with it the ability for perhaps millions of Americans to retire. Which, of course, will only exacerbate unemployment as older Americans hang on to their jobs. Which means high school and college students today may find an unfriendly job market in the next few years. Of course, that's worst case. And, despite my optimism, it seems like everything is going worst case.

On the lighter side, I watched Monday Night Football on Monday night. How dumb do you have to be to continue to punt to Reggie Bush? I hate to say it, but the guy is pretty amazing. Stop punting to him.

The West Virginia Education Association didn't endorse Joe Manchin. They didn't endorse anyone actually but for the WVEA not to blindly endorse the Democratic candidate means he really made them mad. Of course it goes back to last year when Manchin couldn't pull a raise for teacher's out of the air. It's not like it matters anyway considering no one is running against Manchin. Oh, yeah, maybe someone is but I can't remember his name...

The election is approaching quickly. There's a debate tonight. What excitement. I can barely contain myself...

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