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Carry Currency Of Choice Divergence With Yen Dropping As EUR, GPB And AUD Rise
The chicken or the egg problem revisited, as the market stages an amazing if all too expected comeback: the last thing US consumers need at the start of the all too critical holiday shopping season is their 401(k)'s down by 2%. Yen is getting pounded as all "strong" currencies stage an impressive intraday rally: those rate hikes at the ECB are getting so priced in, Greece default be damned.
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Here's a public service announcement:
If you haven't already withdrawn your chips from the 401(k) equity casino, the market maders are giving you one final chance. It expires after Jan 5th.
My plan has been to stay in until 2010 and Then cash out, as I don't want the tax hit this year, but I'm curious as to what I've missed that is related to Jan 5???
I've not seen any new legislative bills introduced that would further limit our ability to withdraw or cash out, as in an increase in the "penalty taxes", have I missed something?
(Actually, I wouldn't mind getting it done by Jan 5, I can do a lot better than my 401(k) no matter how it is set up, in "things that will matter", for want of a description)
Where do you put 401k money after punting and why January 5?
Where do you put 401k money after punting and why January 5?
Let's see what happens this coming week after everyone realizes that the Dubai "restructuring" is a paltry $60B v. the $2T+ already written off by banks world-wide.
This is enough to slow the current drunken sailor rally, but its gonna take more to stop that freight train before year's end.