DEBATE OF '98- wilderness?

Don Baccus dhogaza at
Fri Apr 24 09:21:12 EST 1998

In article <354060AC.7F687CDE at>,
Joseph Zorzin  <redoak at> wrote:

>and when that *%#)& stock market crashes- I won't
>weep for all those greedy yuppies.

As I pointed out in a previous post, it isn't simply greed - by yuppies
or anyone else - that has led to such a greatly increased dependency
on the stock market by ordinary folks.  401K plans are managed by investment
firms that typically give the employee no practical option but to put their
retirement money in the market.  You generally get a "low risk, medium risk,
high risk" set of funds to choose from.  Some low risk investments will be
in the money market - i.e. commercial paper - but the ability of companies
to pay back is to some degree intertwined with the market...

A conspiracy by investment companies or just dumb luck?  I don't know.  It
used to be a lot easier to structure such plans for self-investment or
management but they've become increasingly regulated.  There were real abuses
and folks who lost money because of them, so the regulation may just be a
rational response to thievery by the few.  But the result is that folks who
receive some of their compensation in the form of 401K contributions are
pretty much forced into the market.

- Don Baccus, Portland OR <dhogaza at>
  Nature photos, on-line guides, at

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