Sheesh, we keep on harping at the slowness of decline. From where I sit, I am panicking at the drastic sharpness of the decline! My family net worth lost more than 15K in two days (Thursday and today) through 401K stock accounts via limited selection of mutual funds. There was no way to escape the bath we just took. What was the cause of all that loss? Hmmm? The housing market. That’s right. The housing bubble is now the major cause of the credit implosion – it is all over the news now – no more hiding that. Every joe schmuck who watches the news should now be aware that the problem has a bottom line – the housing bubble. It hurts to see your 401K dwindle portions away caused by the housing market. Now, where is that bottle of sweet red wine…..
