Typical White people

Expert: 401k values are in the toilet, therefore 401k owners will vote for Obama.

In this case the expert is right. But he is only saying 1/2 the story. Yes many 401k and IRA accounts are in the toilet. The 201K is now a reality. But whose fault is that? As with everything for the past 7.5 years, it's Bush's fault of course.

But what about the fault of the 401k holders? Why the hell didn't everyone get out last year? It was about as obvious as could be that the financial markets would get smacked hard this year. You don't need a PhD in finance to figure out that when $15K a year illegal aliens are buying $720K homes, something is not quite right in Denmark. But instead of doing a little research the great unwashed masses just kept on buying stocks for the IRA and 401k accounts.

Even a cursory search of "stock market" and "crash" would have led anyone to thousands if not tens of thousands of websites and blogs that were saying get out of the market. Including of course this one. I didn't time it perfectly and I got back in a little early. But I only got back in with about 25% of my money and that has taken a bit of a beating, which has brought me back to about even for the year. The other 75% has been sitting in various high yield money markets and interest bearing savings accounts. 4% APY isn't sexy, but it's a hell of a lot sexier than losing 7% of the principle in one day. So while the masses are panicking over whether they will retire at 65 or 85, I'm sleeping well at night.

It's not like I had access to some top secret information. This was all out in the open for everyone to see. But did people take that advice? No. They were too busy watching clowns like Jim Cramer and taking his advice to BUY BUY BUY. Or they were too busy watching American Idol to even know what is in their 401K.

And now the great unwashed needs a villain (Bush, McCain) and a hero (Obama). Anything to take responsibility away from themselves.

Ain't socialism grand?