And those 401Ks that are denominated in dollars, they'll hold up great too??
“I guess that pumping a few trillion of additional unfunded debt onto Uncle Sam’s balance sheet will leave my cash savings looking jes’ fine, right??....”And those 401Ks that are denominated in dollars, they’ll hold up great too??”
Look, if it makes you feel better you can call $700 billion a few $trillion.
Second: your savings account and your 401K are yes valued in dollars and invested mostly in U.S. securities.
So what is it that world traders are saying today about the bailout so far. (1)dollar is up against Euro, (2)gold is down in U.S. and Europe, (3)Dow is up 225, and Oil is up because traders see economic recovery, and oil demand higher, following the “bail out”.
But, if you like to feel gloomy, go ahead.