And you wonder why I picked this time to go back to school… We’re fucked.
Poof! There go Americans’ dreams
As one major financial institution after another succumbs to crushing losses this year, it is mourning in America for the hopes of average working people who believed in the myth of stock ownership as a sure path to a better life now and a safe retirement later.
It may sound like a gross exaggeration to say that the dreams of Main Street are dying on Wall Street this week, but it is a fair interpretation of recent events. For the capital that is required to fund businesses, schools, streets, farms, vacations, homes and cars is quite literally evaporating like dew at the start of a summer day with the untimely death of every bank, brokerage and insurance company.
Doom and gloom are the nice words to discribe what we’re looking at.
Read the rest here: articles.moneycentral.msn.comby