I don't have a dime in the markets. Pulled my money two years ago and haven't looked back.
But the vast majority of folks out there are shitting themselves whenever the market moves down. Their sacred little 401-K's are taking a beating. They won't be able to retire by the golf course. They won't be able to fly anywhere and complain about how the people there aren't acting like they did in the old National Geographic magazine that they looked at when they were kids.
This is going to be hard on these folks. These sheeple have been fed these dreams of theirs with their mother's milk. These dreams are the only options available. They have saved 15% of their salaries since forever in the hope for the golden years. Now it appears that the boyz on Wall Street used them the same way that shepherds use sheep. Their golden years are in the same category of illusion as the myth of unlimited oil and American geopolitical superiority.
All of these things tie together. We took too much for too long. Our dreams of retirement was a dream of taking even more. We got the idea from the liars on Wall Street that their wizardry would allow us to put an apple into savings and when we retired we could take out five apples. The reality is folks, if you save an apple now, you can eat an apple when you retire, the other four apples that they promised were so much hot air.
Now, if you plant the apple, work hard at growing it into a mature tree, care for the tree, harvest the fruit, you can develop a means of getting back more than one apple. But the boyz on Wall Street didn't do that. They skimmed 10-15% off the top to line their own pockets, then they used the rest to pay off the early adopters of their Ponzi scheme, and then they left the bulk of the 401-K investors bupkis my friend.
So what I am going to be amused watching is the reactions of the boomers when they realize that they have been taken for fools. The children of the sixties are now a bunch of sad, aging, middle management doofuses with delusions of grandeur and lumbago. These are not the stuff of revolutionaries.
They had better get used to cat food.