Wall Street fired up the middle class milking machine again....

Evasporque

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Tue May-25-10 08:45 AM
Original message

Wall Street fired up the middle class milking machine again....

They are taking profit big time on the gains this past year in the dow...

Yesterday our fund managers told us to "stay in the market"...

I am glad I still have my shit in stable asset funds (since 2004)...protected from market volatility and the Wall Street milking machine.

Smoke and mirrors people. You will not be allowed to have trillions of dollars tied up in retirement accounts. Wall Street will figure out a way to extract the value from your savings and put it in their pockets.

that is what they do.

Middle Class employer based retirement savings is just a profit farm.

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Scuba

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Tue May-25-10 09:21 AM
Response to Original message

1. Absolutely correct.....

... the deferred tax liability mean investors will pay a healthy penalty for getting out of their 401's, even after they turn 59 1/2.

I live in mortal fear that my next quarterly statements will show major losses, despite having transferred everything to low risk, low yield bonds four years ago.

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