Context vs Content… As Global Investors Decrypt Bernanke’s Message
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Dr. Ben Bernanke, Federal Reserve Chairman, addressed Global Central Bankers in Jackson Hole, Wyoming, at the Federal Reserve Bank of Kansas City Economic Symposium. Investors Worldwide have been anticipating his speech for weeks, hoping for: calculated optimism, a call-to-action, a proposed plan-of-responsible economic and monetary policy for our “leaders” to implement, and an overall set of solutions that will blueprint the successful unwinding of our “To Big To Prosper” Global Economic Bubble.
As we continue to assess the fall-out of the latest recession, we realize that most employees, regardless if they work in private versus public sector, are in great danger of depreciating retirement accounts, regardless of the accounts IRS earmark (401k, 403b and IRA’s alike). Although, the below video interviews 401k participants and discusses 401k plans, as we have learned in recent posts, all retirement accounts are in jeopardy due to insolvent employers (particularly municipalities), mis-management (by plan administrators, managers, and trustees alike) and non-disclosed fees, which is one of the issues 60 minutes discusses below.
As State and Federal budgets drown in debt, Defaults and Our Day Of Reckoning Lurks in the Shadows of Our Future, Like the Grim Reaper?