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I'm about a 6, more worried than I am not worried.
Thing is...why not just let the damn banks fail? It's their own greed that got them here in the first place. All this "NO more investment banks!" crap is stupid. Let the big boys go under, as someone smaller will pop up to fill the void they leave behind. Why can't the government just allow nature to take it's course?
Still, I don't think things are that bad. So it might be harder for people to get a loan in the future...HOW IS THAT A BAD THING? It might stop people from getting into debt they can't get themselves out of, which will stop banks from failing in the future. As long as people want loans, someone will be able to give it to them, it just might be priced high enough that people THINK TWICE about people putting money up for the McMansion, which is a good thing. Folks just need to live within their means and have good credit, and they'll be alright.
BTW, I have three credit cards and maybe $50 in debt that I'll pay off next month, as I did the month before...I'm the guy the credit card companies work their models AROUND and keep in mind that I'll only give them minimal money: the kind of guy who lives WITHIN HIS MEANS. That's why my credit score is 755, and it is not because I am a millionaire...I'm just a kid with no degree working at a restuarant. But I am able to find pleasure in simple, cheap things, like hiking in the woods or reading a novel instead of BUYING AND BUYING SOME MORE. Instead of trying to get a bigger apartment, which I can't comfortably afford, I just buy some cheap shelves and a stepping stool to reach them, and make more room with what I have. If people would just stop trying to HAVE WHAT THEY WANT and learn to WANT WHAT THEY HAVE America would be a much better place and we wouldn't be in this mess in the first place! And if takes a "credit crunch" for that to happen, then so be it!
I always wanted to be rich, thanks to my bad past. But now that dream is ****ed! Thanks to all of you worldwide who got ****ing greedy, and no, I didn't want £50million, a simple £500,000 would suffice me.
I'm no longer scared. I've gone through all the stages, from denial to anger to sadness and now I'm at acceptance. Once I resigned myself to what could happen would happen, I changed what I could to prepare for it, ride it out and prevail. One thing I have noticed: the Captains of Industry will not go down with this ship. They believed that the impossible was possible long ago.
I guess I am too incensed to be scared. Fear and anger are unhealthy and neither accomplishes much of anything. However, being angry at the crooks in Wall Street makes me feel better than being scared.
I have been broke before, and I've always bounced back. I raised my children so I've already done what I was supposed to do.
I can always get a second job. Even rich people get sick and old...so there will always be work for me. I'm at my best under pressure anyway. I had planned to work until I drop dead or reach 75 whichever comes first.
Let the market clean itself out. With some luck and real work (not scams and shams) it shall emerge stronger than before.
I'm no longer scared. I've gone through all the stages, from denial to anger to sadness and now I'm at acceptance. Once I resigned myself to what could happen would happen, I changed what I could to prepare for it, ride it out and prevail. One thing I have noticed: the Captains of Industry will not go down with this ship. They believed that the impossible was possible long ago.
I am not feeling any direct effect on my income, but I am more paranoid than anything else. So, I am hanging onto every penny I can in fear of the future. I'd say I'm at 3 on the fear scale and 8 on the paranoia scale.
I'm paranoid and extremely pissed off, furious more like. You see, my "extra income" ha completely stopped. This "extra income" can't stop, it was a thing where it had to continue to be coming in, so now people have a problem as I'm pissed. Thanks a bundle America. Very Patriotic of you to hurt your allies, oh, and happy ****ing christmas to ya.
I have been watching this thread and I can finally answer. I am actually pretty scared. We live in Richmond, Virginia and it looks like Wachovia will be taken over by the FDIC or be bought by Citi Group...neither are very good options for our area.
I'm concerned but not extremely. We're a conservative family and have always lived below our means so we'll make it. I'm concerned about my mom's job because she's worked at the same factory in Western MA for over 30 years and if that place closes , well... It would be tough on our finances. I'm concerned about how it's going to domino into other areas of my familys life. It will affect everyone I believe.
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