That won't be helping the portfolio.
"More dip early into funds for retirement"
"Record numbers of Americans are raiding their retirement savings as the economy has soured, threatening their long-term financial security to make their mortgage payments, pay medical bills, and cope with rising food and fuel costs."
Yeah, tell me about it.
How do you think I'm here every day?
When the money runs out, I'm done.
All that dough being transferred to the already rich -- per the plan.
At least you still have home, shit, home, 'murkns:
"1 in 11 mortgages deemed in jeopardy; First quarter worst in nearly 25 years" by New York Times News Service | June 6, 2008
About 1 in 11 American mortgages were past due or in foreclosure at the end of March, according to a report released yesterday, a figure that is rising fast as home prices fall and the job market weakens.
The first three months of 2008 marked the worst quarter for homeowners in nearly 25 years, according to the report by the Mortgage Bankers Association. The rate of new foreclosures and past-due payments surged to the highest level since 1979, when the group began collecting the data....
Delinquency and foreclosure rates started rising from historically low levels in late 2006 and have picked up speed in nearly every quarter since.
Like a boulder rolling downhill in an avalanche, huh?
Analysts say at first past due mortgages represented mostly high risk loans made to borrowers with blemished, or subprime, credit. Now, as the economy has weakened and home prices have fallen in many parts of the country, homeowners with better loans are also falling behind....
And George Bush will be gone when the shit hits the fan, won't he?
Nothing like a war criminal who destroyed our country walking through the poop droops without a smatter!
Pffffttt!
DALLAS - Continental Airlines Inc. will cut 3,000 jobs and slash its jet fleet 18 percent, becoming the fourth big US carrier to shrink operations as fuel costs soar....
LIE!!!
"The fuel costs the same. It is the dollar's plunge that is the problem, and that is the fault of a government that lied us into an no-win war and bankrupted the nation while doing it." -- Mike Rivero of What Really Happened
US airlines have eliminated about 22,000 workers so far this year, more than double last year's total, recruiting firm Challenger, Gray & Christmas Inc. said. More will follow when American Airlines, the largest carrier, details its "thousands" of job cuts to help stem industry losses that may reach $7.2 billion....
Jet fuel for immediate delivery in New York Harbor reached a record $4.09 a gallon on May 21. It rose 12 cents yesterday to $3.77, a jump of 77 percent in the past year.
Continental said that at current prices, its fuel bill will rise $2.3 billion above 2007's spending. JPMorgan Chase & Co. analyst Jamie Baker has estimated a record $7.2 billion industrywide loss for 2008, topping the annual deficits posted after the Sept. 11, 2001, terrorist attacks."
So they will get another federal bailout with YOUR MONEY, won't they?
And check this out:
Continental said that at current prices of $3.77 a gallon, its jet fuel bill will be $2.3 billion more than in 2007. (Jason Miller/Associated Press)
And please explain to me, readers, why the Zionist-controlled press just happened to publish a picture with women wearing head scarves (Muslim) at the ticket window?
Couldn't find one without them, right?
I'm tired of the subtle propaganda and outright lies of the Zionist-controlled AmeriKan MSM, folks. Aren't you?
So damn obvious.
Oh, here are more economic lies:
"Oil pushes up as dollar slips; gas ever closer to $4 per gallon" by Associated Press | June 6, 2008
NEW YORK - Oil prices soared yesterday as the dollar swooned and prices at the pump edged to within a penny of $4 a gallon.... Crude's surge came as the dollar fell in response to comments by European Central Bank president Jean-Claude Trichet suggesting the bank could raise interest rates....
When rates rise in Europe, or fall in the United States, the dollar tends to weaken against the euro. Many investors buy commodities such as oil as a hedge against inflation when the dollar is falling. Also, a weaker greenback makes oil less expensive to investors dealing in other currencies.
Many analysts believe the dollar's protracted decline has been a major reason why oil prices have nearly doubled from year-ago levels. Oil's rally has pushed gas prices to record levels.
Yes, and the MSM has done its best to HIDE and MINIMIZE that fact! WHY?
Earlier this week, Federal Reserve chairman Ben Bernanke indicated that more interest rate cuts are unlikely in the United States. Bernanke's comments sent the dollar higher, helping push oil prices lower.
The average national price of a gallon of gas rose 0.6 cent overnight to a record $3.989, according to a survey of stations by AAA and the Oil Price Information Service. Prices have not fallen since May 6, AAA records show, and are likely to continue rising for at least a while before eventually turning lower.
Yup, every day a record (except today, prices dropped.
Way they get you to cool off when you are ready to explode, shit-chewers).
What makes them think it will go lower?
Really, I mean, they have been WRONG or LYING the whole time about this!!!
Gas prices are higher than $4 in many parts of the country, and average more than that in 13 states and the District of Columbia.
Diesel prices are already falling; the average national price of a gallon of diesel slid 0.8 cent overnight to $4.77, according to AAA and OPIS, though prices are above $5 a gallon in some areas. High diesel prices have boosted prices of food and consumer goods transported by truck, ship and rail, putting additional pressure on families already struggling with $4 gas.
Yup, business always gets the first break.
By the time the price drop reaches the average American, the dollar will be damn near useless.
And the richers clean up. Hope you are happy.
Oil's decline since May 22 has come largely on concerns about demand. Recent Energy Department data shows high prices have led consumers to cut their gasoline consumption.
But, but, but... if demand is DOWN... shouldn't prices be dropping?
Meanwhile, many Asian nations are cutting fuel subsidies, effectively raising prices. Automakers are cutting production of gas-guzzling SUVs and trucks, and airlines are cutting capacity, both due to high fuel prices."
But we won't emphasis the DECLINING DOLLAR that is causing all this.
See how they push a MYTH of a MIND SET on you, 'murkns?
Repeat something enough and shit-chewing AmeriKans will believe it -- even if it is a damnable lie.
Update:
"... as the dollar weakened further on a jump in the jobless rate in the United States."
The problem is NOT the price being set by the oil exporting nations. The problem is that the dollar is plummeting in value. And blame for THAT goes right to the US Government." -- Mike Rivero of What Really Happened
Also see: Record numbers using food stamps in Ohio, Michigan
