Today's BAD Economic News
I may have been unsettled earlier this week - now I am beginning to be a bit dismayed (to put it mildly). |
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| Ask all the US Congressmen (who ignorned reform while raking in the $$) and Wall Street people who made money on FannieMae to give you a loan.
Friend mentioned today he's lost $20,000 in his 401K and he's bailing out NOW. |
YEh what about AIG spending $440,000 on their spa week, AND the goverment just gave them more $$ millions even after they heard about this  |
| we are trying to just make ends meet and they spend this much. We are now trying to refinance to try and hang onto our home. I am so mad at all this crap and so many good people loseing their hard earned $$$$.
makes me not want to be a USA cid. Leave the USA !!!!  |
For years the banks and Real Estate companies have been making high profits and I am sure the person on the street knew it could not last forever.  The people involved were so greedy that they have ignored the signs and just carried on with normal business earning more and more millions of $ for themselves now this has happened they are all surprised  .I feel sorry for all those poeple who unknowing lost their savings and the many who will lose their pensions because off this world wide crash, I do not feel sorry for the people who were gambling on the stock exchange because they are just after a quick killing at someone elses cost  .The last time this happened we ended up with a world war lets hope it doesn't happen again, the European countries France, Britain as well as the USA will have to look at their finances and re-structure and in my opinion get out of these silly wars in Iraq and Afganistan which are costing billions in tax payers money. |
| I've had a stock account since I was in my early 20's, I invest most of my savings in it. I can't even begin to tell you how much money I have lost in the past two months, it makes me sick to my stomach.
My Dad manages my stock (as well as my brother and sisters), He called me the other night and said, "I have some good news and some bad news". The bad news was that a large bank stock, of which I have several thousand shares, had dropped from $58.00 a share to $19.00 a share (I could feel the bile rise in my throat). He then proceeded to tell me that the good news was he bought 4000 shares 
He believes that the market will recover and now is the time to pick up healthy stock at a good price. I have lived most of my life on a cash basis. I do not use credit cards, don't buy a new car til I have saved at least 1/2 the price and have a pretty small mortgagee. So the credit crisis doesn't bother me, people who go into debt beyond their mean NEED to learn to manage money. The job situatuion is scarey, it is sad to hear of somone who has worked in a factory for 20 or 30 years losing their job. At the same time I wonder at the auto industry where an auto worker who puts the same widget on the same wonker for 8 hours a day makes more money than I do as a health care professional with 6 years of education. It boggles my mind. The key to surviving is to live within your means, learn how to save money and stop using credit. |
| you have to wonder though, what is going to have to happen with government services and/or taxes, since the profit from the market has a very direct impace on the State bottom line - at least here in NY. |
| the people who have this to my mind should be charged with treason for bringing their country to their knees and have all their assets stripped from them and returned to pays the debts of the banks let them have nothing. |
| ginny,
i think your dad is right! now is the time to buy...IF you have nerves of steel and time on your side...... you could end up being super wealthy....**nudge nudge** best friend.... i actually was thinking of doing the same thing..... |
Darcy wrote: ginny,
i think your dad is right! now is the time to buy...IF you have nerves of steel and time on your side...... you could end up being super wealthy....**nudge nudge** best friend.... i actually was thinking of doing the same thing..... Well, actually..... I am cashing in a CD today (it's due) and I'm going to let my Dad invest it. I figure if it is good enough for Warren Buffett it's good enough for me!!!!!!!!! |
Tasker's Mom wrote: Darcy wrote: ginny, i think your dad is right! now is the time to buy...IF you have nerves of steel and time on your side...... you could end up being super wealthy....**nudge nudge** best friend.... i actually was thinking of doing the same thing..... Well, actually..... I am cashing in a CD today (it's due) and I'm going to let my Dad invest it. I figure if it is good enough for Warren Buffett it's good enough for me!!!!!!!!! well if you get the deal warren got from ge go for it - a guaranteed 10% return and they can buy him out for what he paid - no less down the road. Besides he is only investing chump change for him. Never invest anything in the market you aren't prepared to lose. that's the best avice. |
Darcy wrote: ginny,
i think your dad is right! now is the time to buy...IF you have nerves of steel and time on your side...... you could end up being super wealthy....**nudge nudge** best friend.... i actually was thinking of doing the same thing..... Or losing very little at least. We've been considering buying some Ford stock and rolling the dice. At $2 a share, we either stand to lose only a couple thousand or gain a lot more. We're playing a poker tournament tonight and we're letting that be the deciding investment factor, lol. If one of us wins, it all goes into stocks. It's found money so no biggie. One of us usually wins something but, in this case, I'd rather it be James. I like to spend my winnings. |
| One of the founding members of Chesapeake, a large oil and gas exporation company, had to sell all of his stock in the ompany in the last three days due to a margin call.
This will result in huge layoffs and a decrease in gas and oil production as the old wells naturally start producing less and fewer new wells are being drilled. We don't even look at our stock values right now. |
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