Posted on 02/19/2009 8:37:47 AM PST by kcvl
Per Drudge:
http://www.cnbc.com/id/15840232?video=1039849853
US Retirement Assets Dropped 5.9% To $15.9T In 3Q - ICI
Last update: 2/19/2009 12:11:26 PM
DOW JONES NEWSWIRES
Americans’ retirement assets declined 5.9% in the third quarter to $15.9 trillion even before the U.S. stock market reached its November low, according to the Investment Company Institute.
Individual investors lost significant chunks of their retirement savings during the market’s slow-motion crash last autumn. Since then dozens of companies, looking to cut costs, have ended contributions to employees’ 401(k) plans.
The institute said the $15.9 trillion accounted for 35% of all household financial assets in the U.S. at Sept. 30. That figure is off from $16.9 trillion on June 30.
Specifically, individual retirement accounts held $4.1 trillion in retirement assets, followed by $4 trillion in employer-sponsored defined contribution plans. Forty-six percent of IRA assets and 47% of defined contribution plan assets were invested in mutual funds.
Total return on equities was negative 8.4% while bonds returned negative 0.1% during the period.
ICI’s data cover assets in private-sector pension plans including defined benefit and defined contribution plans, government plans, annuities and individual retirement accounts.
Count me in as seething. It’s so great to hear someone give a voice to the frustration that’s out here.
Interesting thought!
I think this is a result, but I don’t think it was the intent. Socialism is the intent.
We'll get front door ones too.
I am familiar with Soros and his tactics in playing god. I don’t discount for a moment his power or intent but I don’t think he engineered the basis for this crisis which was our out-of-control credit craziness. He’s taking advantage of it, no doubt, and he could well have engineered that September Surprise run on the investment banks, but I think not everything is in their control as yet and the people of this country and the Constitution are hardier than they know. This nation has been saved by divine intervention before and I trust it will happen again so long as a significant portion of the people still try to obey God’s laws.
They say they are doorbells; but what actually is the money being spent on?
Amen!!! The voices are FINALLY being heard! We all should do whatever we can to keep this rolling.
Bet bambi rethinks the “Fairness Doctrine” now?!
The common denominator in all serious revolutions is a single event, act, or law that unites disparate groups---the wealthy, the middle class, and the poor, the young and old, etc. In the Am. Revolution, there were southerners, northerners, wealthy and sodbuster frontiersmen. The Russian Revolution wasn't communist at first---it united a wide spectrum of groups.
So, in my view we are getting the ground troops, but still lack that galvanizing anti-Obama/anti-Dem issue that will cause a-political people to pick up the pitchfork.
Below, is just a few pages of the PORKULUS bill - I repeat, it's only a few pages of the 1000 plus page monstrosity.
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"H. R. 1—55 LEAKING UNDERGROUND STORAGE TANK TRUST FUND PROGRAM For an additional amount for ‘‘Leaking Underground Storage Tank Trust Fund Program’’, $200,000,000,
STATE AND TRIBAL ASSISTANCE GRANTS (INCLUDING TRANSFERS OF FUNDS) For an additional amount for ‘‘State and Tribal Assistance Grants’’, $6,400,000,000, which shall be allocated as follows: (1) $4,000,000,000 shall be for capitalization grants
FOREST SERVICE CAPITAL IMPROVEMENT AND MAINTENANCE For an additional amount for ‘‘Capital Improvement and Maintenance’’, $650,000,000, for priority road, bridge and trail maintenance and decommissioning, including related watershed restoration and ecosystem enhancement projects;
WILDLAND FIRE MANAGEMENT For an additional amount for ‘‘Wildland Fire Management’’, $500,000,000, of which $250,000,000 is for hazardous fuels reduction, forest health protection, rehabilitation and hazard mitigation activities on Federal lands and of which $250,000,000 is for State
INDIAN HEALTH FACILITIES For an additional amount for ‘‘Indian Health Facilities’’, for facilities construction projects, deferred maintenance and improvement projects, the backlog of sanitation projects and the purchase of equipment, $415,000,000, of which $227,000,000 is provided within the health facilities construction activity for the completion of up to two facilities from the current priority list for which work has already been initiated:
SMITHSONIAN INSTITUTION FACILITIES CAPITAL For an additional amount for ‘‘Facilities Capital’’, for repair and revitalization of existing facilities, $25,000,000.
SEC. 701. (a) Within 30 days of enactment of this Act, each agency receiving funds under this title shall submit a general plan for the expenditure of such funds to the House and Senate Committees on Appropriations. (b) Within 90 days of enactment of this Act, each agency receiving funds under this title shall submit to the Committees a report containing detailed project level information associated
EMPLOYMENT AND TRAINING ADMINISTRATION TRAINING AND EMPLOYMENT SERVICES For an additional amount for ‘‘Training and Employment Services’’ for activities under the Workforce Investment Act of 1998 (‘‘WIA’’), $3,950,000,000, which shall be available for obligation on the date of enactment of this Act, as follows: (1) $500,000,000 for grants to the States for adult employment and training activities, including supportive services
$50,000,000 for YouthBuild activities: Provided, That for program years 2008 and 2009, the YouthBuild program may serve an individual who has dropped out of high school and re-enrolled in an alternative school, if that re-enrollment is part of a sequential service strategy;
I doubt it. This thing is bigger than Santelli now.
But not the final goal, I think...
Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.
Karl Marx, Das Kapital, 1867
I want to do what I can as well but would’nt that just make us like them? There has to be ways of fighting back WITHOUT compromising principles.
I’m in. Just tell me when and where.
You’ve heard me rant about the fact that we need people to FIGHT!
THIS IS WHAT I’M TALKING ABOUT!
If everyone on the right who had a microphone, or a moment in front of some people, or a tad of some kind of influence and used it to rail against the rape of America we would not be in this situation.
We don’t need a bloody revolution, yet, we need more people LIKE THIS GREAT AMERICAN WHO HAS THE HUEVOS TO SPEAK UP!
Thank you, sir! Thank you very much!
Never heard of Santelli before, but I like him now.
Correct. And, it is building fast. Obambi has barely been in office a month.... imagine what things will be like 6 months from now....
It is coming and America WILL wake up.
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