Zeev's Turnips Patch-No Politics (ZEEV)

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<<managed to turn 1.2 million into 180,000>>

Ouch!!! Reminds me of the dot.com meltdown. I knew several people with 1-3 million USD portfolios who ended up at zero, or below (margin). The strains such losses put on individuals and families is enormous. Some don't even survive.

60% of US households have exposure to the market, mostly 401Ks, pension funds, and IRAs. The average 201K is probably down about 50% since they will roughly mirror the market.

One estimate I read is that US citizens have lost 12 trillion so far in wealth, housing price declines and stock market losses. It is likely to get worse.

So far we are looking at the Great Recession of 2008. Just hope it doesn't get worse.