[rshoffer]

Someone just walked into my office and said... "Iceland went bankrupt"! (not sure what that means). The Dow is now below 9000. I hope people don't start jumping outta skyscrapers. I am frightened.

[Don H]

.....and it looks like we're not even close to the bottom.

[Rokinronda]

http://www.iht.com/articles/2008/10/...ss/icebank.php

[rshoffer]

Will it go below 8000 today? I wonder what percent of Villagers retired here on only a 401-K and Soc. Security?

[conn8757]

They are now called 201 k's - If businesses start to fail, they will not be able to repay their ious and there will go the bond market also. Who knows what to do - money doesn't feel so safe anywhere. I think we just need to circle the wagons and give thanks for family and friends.

[captain1202]

The safest investment right now are directly purchased short term Treasuries FULLY guaranteed by the U.S. Govt. An investment advisor I subscribe to who has been calling the current situation for over two years recommends bailing from stock and bonds for the reasons stated in the previous post and investing in Treasuries for safety. The key now is retention of value and not to worry about return until things have settled down.
Also, if you assume that it may take a number of years to get back to previous levels, one must ask himself "Do I have the time to wait?"
Example: If you had $500k in your 401 a month ago, you may be down 20-40% as of today. That's serious money. Drop another 20% and it could be a "retirement breaker".

[trumbull]

What are US Treasuries paying today

[billethkid]

to communicate with the service stations to raise the price of gas....which is extremely quick and effective......we just need that system to tell everybody to stop selling and buy!

The problem will cease when the sellers stop selling....pretty simple.

Trying to catch the market and buy once it starts to recover...is usually too late to take advantage of the upswing.

Lastly, do not turn on the televison set for one week to 10 days.

BTK

[efrahingarcia]

Just on the subject of 401K's whe you reach 70 and 6 months you have to start drawing from your 401K, for the people who does not need it, is there anyway NOT to start drawing???.