Months ago- I had encouraged Ms. Rittenhouse to consider cashing-in her 401K money market fund and transferring her assets into more stable financial instruments.
A call last week to her broker gave her the news that her account "has lost about $1.9k in a year." The broker's secretary volunteered the fact that she "had lost around $20k" in her own account.
According to the Associated Press' "David Pitt" in a STAR article Sunday- in JUST the week of September 11 through the 18th- Americans cashed-out of their money market funds to the VERY loud tune of "$224.3-BILLION."
Save yourselves citizens- as the cost of a barrel of oil rises above $108 and higher- and the liability to the American taxpayers becomes incredibly overwhelming.