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Raleigh, Durham, Chapel Hill, Cary The Triangle Area
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Old 10-07-2008, 06:11 PM
 
34 posts, read 139,884 times
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Just surveying the recent posts and my conversations with folks in the area the last few days, there does not seem to be a "crisis" mentality in the area in regard to the financial situation.

Everyone I talk to seems to be taking it in stride as just another news item.

Has anyone seen any effects, or is it yet to come?
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Old 10-07-2008, 06:26 PM
 
9,848 posts, read 30,222,306 times
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Quote:
Originally Posted by 600monday View Post
Just surveying the recent posts and my conversations with folks in the area the last few days, there does not seem to be a "crisis" mentality in the area in regard to the financial situation.

Everyone I talk to seems to be taking it in stride as just another news item.

Has anyone seen any effects, or is it yet to come?
I think it depends on who you talk to. If you're 30 years away from retiring and aren't looking to get a loan you probably aren't sweating the economy right now. On the other hand if your 65 and watching your 401K sink just when you are getting ready to use it or are one of the 400 people laid off from Sony last week you probably aren't as upbeat about things.

All in all I think Raleigh in general is in a good position to weather this storm, but as with most things in life your mileage may vary depending on your own personal situation.

Last edited by North_Raleigh_Guy; 10-07-2008 at 06:35 PM..
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Old 10-07-2008, 06:30 PM
 
1,955 posts, read 5,257,802 times
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Agree with NRG's assessment. Things seem to be decent enough here. My wife just got a new job last week while the news is full of nothing but doom and gloom regarding job cuts.

My business has slowed a bit, but that's more to do with problems elsewhere rather than anything in the Triangle specifically.
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Old 10-07-2008, 09:25 PM
 
Location: Middle Creek Township
2,036 posts, read 4,386,898 times
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I am stressed because of my IRA being worth nothing right now. It has nothing to do with the local economy. I am actually very surprised that things look so good here. I am quietly waiting for the hammer to fall, but hoping it does not.
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Old 10-12-2008, 03:24 PM
 
9,680 posts, read 27,111,406 times
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I'm really happy that all my money is in insured CD's at SECU.

The stock market has become Las Vegas in recent years and so much financial restatement you can't trust anything.

Stocks are for Warren Buffett not middle class working people.
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Old 10-12-2008, 03:28 PM
 
Location: Cary - A great town for me
945 posts, read 1,968,468 times
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I am going to find a local Scottrade office tomorrow, deposit some more money and get in on some great action to come. It's a great time to get in. Mutual funds would be the safest way to go, rather than straight stock.
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Old 10-12-2008, 03:28 PM
 
1,955 posts, read 5,257,802 times
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Quote:
Originally Posted by saturnfan View Post

Stocks are for Warren Buffett not middle class working people.
I agree to an extent. We've got to get over this mentality that throwing one's money at the stock market is a sure ticket to wealth.

That being said, I do think that lower-income people can make decent investments in the stock market if they're willing to take the time to read economic news very regularly and research companies. There are a lot of good stocks out there that will come back. There are also quite a few that will never bounce back from this mess.
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Old 10-12-2008, 03:55 PM
 
9,680 posts, read 27,111,406 times
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Quote:
Originally Posted by StoneOne View Post
I agree to an extent. We've got to get over this mentality that throwing one's money at the stock market is a sure ticket to wealth.

That being said, I do think that lower-income people can make decent investments in the stock market if they're willing to take the time to read economic news very regularly and research companies. There are a lot of good stocks out there that will come back. There are also quite a few that will never bounce back from this mess.
Yes, a gambler could get 100 shares of GM or Ford for a pittance now. Might make a killing or wind up losing their small bet if the companies file bankruptcy.

Still, defined benefit pensions really show their value now.
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Old 10-12-2008, 04:31 PM
 
Location: Hope Valley Farms, Durham
100 posts, read 242,396 times
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Quote:
Originally Posted by saturnfan View Post
Yes, a gambler could get 100 shares of GM or Ford for a pittance now. Might make a killing or wind up losing their small bet if the companies file bankruptcy.

Still, defined benefit pensions really show their value now.

I've been making some mid-to-long term bets on numerous alternate energy stocks as of late: Wind, Geothermal, Electric Motors, Clean Diesel, Solar, waste-to-energy, etc. There are some huge bargains out there right now and will continue to be so for several more weeks or more. Many models and economist thought that the 9k DOW would be the bottom, but panic selling and idiotic administrative heads saying or doing the wrong things continue the drop.

As for the Triangle..it's huge on medicine and education. So, if you are in one of these or supporting one of these industries...life is and almost always will be okay. Others come and go just like everywhere else.
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Old 10-12-2008, 04:57 PM
 
95 posts, read 327,340 times
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Im worried beings for first time in 25 years Im unemployed. Ive sent out resumes for jobs to at least 70 places and Im not having any luck. Im selling off all my non-necessities but they are all ran out now
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