Richard

One Year

Saturday, 4. October 2008, 00:15:25

finance, economy, hard times, Dow Jones, loss

Dow Jones index. Source Yahoo.

Verse 10No sunspots for 200 days

Comments

ellinidata # 4. October 2008, 01:47

darn it it looks worse in white and blue than it was in black and white!

This time is good only for sharing *hugs* and prayers

musickna # 4. October 2008, 01:55

So hugs and prayers to you, Angeliki!

It does look grim, but, for all the fear, we are not the same society as 1930s' America & I do not believe that the very worst will happen. If though the grimmest scenarios no longer look remote. At the very least, this recession is going to shake up people's values & maybe lead a few away from the excessive materialism that is the characteristic of today.

noah counte # 4. October 2008, 01:56

Today, with passage of the "bailout," was no better than yesterday. Huh.

musickna # 4. October 2008, 01:58

Are you surprised?

The credit markets are still completely locked, and it's not as if the Treasury can pull out all the rotten debt from these banks tomorrow. It's going to take time - and do we have that time? I wonder. That's my fear.

ellinidata # 4. October 2008, 02:16

Richard take your time ,
it is the safest move right now,
trust me on this.

unless you need your money for next year ,
the best thing it is to wait,
you have almost 10 years before you touch any money without paying the extra taxes on them.
I am going to simmer down myself,
from the looks of it ,
the year 2014 we will be out of the whole..

when is your kid going to college??

with one of mine off next year and the second in 2011 it will be an experience to remember ,
however there are people loosing their homes,
I should count my blessings ..

noah counte # 4. October 2008, 02:30

My fear is that the almost trillion dollars they threw at Wall Street doesn't address the other 95% of the problems that are slowing down the economy. Or won't help lagging indicators until it is too late (as you say).

musickna # 4. October 2008, 03:15

Your point is very pertinent one, Matt.

You are right, Angeliki. We have more than enough cash on hand to sustain us through a year at least even if both of us lost our jobs, so my fears are more abstract than real about the market losses. My son will not be going to college until 2012 and that's a long time hence. And, assuming all continues as before, I will be getting either 1/2 of Washington University's tuition of that year to apply to another college, or all of Washington University's tuition free should he go there. This very valuable perk is the best benefit of my job & removes a lot of worry about college costs.

So the long view is by far the best outlook. Still, these are very turbulent times.

ellinidata # 4. October 2008, 03:33

it sure does Richard,
by the time he goes to college things will be so much better .
having a years financial security it is the way to be, when I sold the Corporation every body was saying the adjustment to a new job it will take 3months max, well it took eight months, being prepared made all the difference.
as for colleges,
NYU these days it is a 50K a year ,
Hofstra that Yannis plans to attend its not much lower either,
since he is in a College sponsored High School his admission to a college it is not the problem ,
the tuition it is another story.
I am just hoping my young will end with scholarships , her grades are for a selective HS very high and she is a very driven student. Time will tell.
if not mom will have to get a second job