I came across this factoid in the comment section of a financial website that I have bookmarked; one to two hundred thousand dollars lost by fifty million households since January 14, 2000.

Is this true? If it is, it's unbelievable because that's a ton of people. The commentator also mentioned that many retired people who were heavily invested in the stock market suffered serious losses, as well as those retirees from companies whose stocks have gone to nothing like Lucent, ATT, and Bethlehem Steel.

I was lucky. I got out of market before 2000, while the market was still high, and transferred everything to money market accounts. I knew the markets were going to correct, and it was just a matter of time. Some of my best friends thought I was totally crazy to get out of the market, and blamed my fascination with conspiracy theories on looniness. My critics have lost a ton of money, some are bitter, some are worried, and some are scared. This was their retirement money, after all.

And looney me? I didn't lose money, I made money actually. Not a lot, but at least I have no losses. I take no pleasure in being right. I don't want to tell people I told you so, and why the heck didn't you listen to me, although I'm tempted. It's cruel to be sanctimonious with people who have suffered financial losses. I feel for my friends.

What scares me is the effect these financial losses will mean for the country. If people have lost money, this means corporations which are also heavily invested in the stock market, have lost money too. This means pension funds and mutual funds have taken deep losses as well.

And it all trickles down, trickles up, trickles everywhere. All the states are experiencing budgetary woes, which means a cutback in social services at the state level. The government cut taxes, but now they could sure use that tax money for the war on terrorism and upcoming war with Iraq. If they have to make cuts, the government will cut social services.

Where is the safety net that many people might be needing soon? I had images of blood on the streets in January 2000 right before the markets started diving. Those images have come back, but this time I don't think it's financial bleeding I'm seeing.