"In 2002 dollars, the Dow actually has gone from 8,000 to 6,000. You actually lost 25% of your nest egg over the past two years!" So, as an example, if you had $100,000 in purchasing power two years ago, and now you have only $75,000 in purchasing power, thanks to the devaluation of the dollar by 25%, and you want to privatize Social Security by forcing people to put money into the stock market? Hahahaha!"
The sage words of MOGAMBO GURU, who can be found spouting forth every Monday at www.dailyreckoning.com. I highly recommend this site, which provides a free daily email for those who care about things financial.
Monday, January 17, 2005
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