Posted 1/7/2012 3:09 am
and the other reason is the selling of 9-11 celebration cans of Pepsi in Arab countries. Lots of Americans didn't like that and quit all Pepsico business and products. I know i have.
Posted 1/7/2012 3:32 am
At some point in the Reagan administration. I am old enough to remember that at that point the market was doing good, Reagan had busted the Patco union, and the outsourcing/global trade tards (before they invented NAFTA) sold people on the idea that they could retire easily with 401k's instead of some boring fixed pension. Everyone was supposedly going to go home and watch the Nightly Business Journal and decide how to adjust their protfolio. Company after company dumped fixed pensions, there were only scant complaints.
In other countries, people would have been in the streets burning down government buildings.
from wikipedia
According to a Feb 19, 2011 article in the Wall Street Journal, "the median household headed by a person aged 60 to 62 with a 401(k) account has less than one-quarter of what is needed in that account to maintain its standard of living in retirement." This according to a study commissioned by the Journal, and conducted by the Center for Retirement Research at Boston College.
