The stock market — and the 401(k) plans of millions of Americans — really took a beating today. Anytime the market plummets more than 500 points and loses almost five percent of its value in a single day, it is just not a good day.
Why did the market drop like a drunken sailor after his last mug of grog? Who knows? The zig zags of the market are beyond the ken of mortal investors. Perhaps the Wall Street wizards have come to recognize what most of us have realized for a long time — the economy sucks wind like an overweight sprinter, and its not getting whipped into shape by the expensive “cures” emanating from Washington, D.C.
There’s not much we can do about it, except compose another bit of stock market haiku to commemorate our vanishing paper profits:
Retirement just a dream
And summer’s too hot