The losses in the IRA ....
These were purchased by my husband years ago and are moved around with the
sole decision of the broker and owner of that IRA. It is a retirement savings plan and the purchases are generally those of long term, rather bland investments.
There was a steady growth over the years I was keeping an eye on them (I know because I had to pay tax on them - not as much as I would if I had withdrawn any of the funds - but still the government had it's finger in the pot).....
In 2008/09 they plunged to an amount of $300,000 from 2008 half way to the end of 2009. This year they have gained a portion in return - approx. $50,000 and if I watch them carefuly perhaps they will grow back but the $300,000 is the amount which occurred when Obama became president or was campaigning for the job.
I have another account of more like a risk-taking one which I use as "my money".... it also lost funds but grew back quickly because my broker is allowed to
play more with that kind of purchase.... the IRA's have to follow different rules as I understand it. I pay higher taxes on this portfolio. Last year the taxes were "deferred" to be paid at the end of 2010 (go figure like that is some kind of wishful financial planning!).... pay at the beginning or the end..... some people will spend what they will have to pay..... it doesn't seem to be sound investment strategy.
I am sorry - the nation is headed for a depression unless some bright guy figures out how to access more work, jobs, housing, export, all those things we have turned over to nations who are getting very wealthy on the U.S. lack of foresight.
I have always thought the U.S. "took care of its own first" - not so much any more - they seem more interested in maintaining a huge military force around the world. No one nation should be expected to shoulder the skirmishes all over the planet alone. Also the jobs are being farmed out to other nations.... when Americans are out of work. Even I who am a dunce in financial matters, sees this as insane.
I have become an isolationist..... I never thought I would see the sense in it....now I do.