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Old 10-24-2008, 02:39 PM
 
Location: Tucson
42,831 posts, read 87,997,292 times
Reputation: 22814

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Quote:
Originally Posted by mrstewart View Post
That is probably the best thing to do...redirect your thoughts and energies...this will pass and hopefully we will all be on the upswing!
Today I'm almost smelling the start of the next housing bubble. Sales are up 5.5% and there's talk again about serious cut of the interest rates, just like Greenspan circa '02 or '03 it was... give it another year or two (just like then) and everybody will forget and the next bubble will be on its merry way. History repeats itself and nobody learns from it. Give it 5 to 10 years for a new generation to enter the market and it's like nothing ever happened in the past.
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Old 10-24-2008, 02:43 PM
 
13,783 posts, read 26,209,082 times
Reputation: 7445
Quote:
Originally Posted by sierraAZ View Post
Today I'm almost smelling the start of the next housing bubble. Sales are up 5.5% and there's talk again about serious cut of the interest rates, just like Greenspan circa '02 or '03 it was... give it another year or two (just like then) and everybody will forget and the next bubble will be on its merry way. History repeats itself and nobody learns from it. Give it 5 to 10 years for a new generation to enter the market and it's like nothing ever happened in the past.
Yep, thank goodness Americans have a short memory!
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Old 10-24-2008, 04:30 PM
miu
 
Location: MA/NH
17,764 posts, read 40,062,045 times
Reputation: 18068
My boyfriend has been pretty relaxed over the current economic climate. His work shouldn't be affected. He was a little concerned when Wachovia tanked, but his mom told him that their family's accounts have been liquid since last year. I guess their financial planner is very savvy. Otherwise, his dad works for Wachovia, so at one point, they all had stocks in the bank. My boyfriend wants to invest in alternative energies.
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Old 10-24-2008, 04:59 PM
 
25,157 posts, read 53,850,310 times
Reputation: 7058
Maybe because you are always out partying it up....that is why you are relaxed.

Quote:
Originally Posted by mrstewart View Post
I have noticed that my hubby has been a stress case with all of the gloom and doom news from Wall Street, mortgage fall out and the elections. He is usually very laid back but he is just short, cranky and nervous lately. While I am the opposite...I figure, heck, our country has been through these types of things before, the last being in the early 80's and most people were able to ride it out.

Are any of you dealing with cranky nervous partners or are you the one???
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Old 10-24-2008, 07:22 PM
 
13,783 posts, read 26,209,082 times
Reputation: 7445
Quote:
Originally Posted by artsyguy View Post
Maybe because you are always out partying it up....that is why you are relaxed.
HAHA!! Party girl

I worry but not to the point where I am cranky...recessions have happened before and will happen again so I try to stay positive knowing that others have been through this and have been ok...
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Old 10-24-2008, 07:46 PM
 
Location: North Carolina
2,657 posts, read 8,013,881 times
Reputation: 4361
Oh, I've lived thru several decades of economic nonsense. Anyone here remember Nixon's wage and price freeze? Nixon Imposes Wage and Price Controls

This too shall pass, but what pisses me off is that we finally have an eye on the prize: retirement. Unless there's a boom that helps us to recover what we've lost in our 401k's we'll have to amend our plans; maybe even work more years. Amending I can deal with, having to endure more years of Corporate Hell ... I don't think so
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Old 10-24-2008, 07:51 PM
 
Location: Tucson
42,831 posts, read 87,997,292 times
Reputation: 22814
Quote:
Originally Posted by silverwing View Post
Oh, I've lived thru several decades of economic nonsense. Anyone here remember Nixon's wage and price freeze? Nixon Imposes Wage and Price Controls

This too shall pass, but what pisses me off is that we finally have an eye on the prize: retirement. Unless there's a boom that helps us to recover what we've lost in our 401k's we'll have to amend our plans; maybe even work more years. Amending I can deal with, having to endure more years of Corporate Hell ... I don't think so
Like how much longer...?! Social Security already kicks in at 67 and perhaps even later for younger ones! I'm quite certain I'll kick the bucket either before or around that time. There was this disgusting cynical headline on Yahoo last week - Retire Where There Are Plenty of Jobs or something to that effect. Well, scre*w you! That's not exactly the purpose of retirement, is it!
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Old 10-24-2008, 08:23 PM
 
Location: Philippines
1,961 posts, read 4,372,871 times
Reputation: 2781
heh. We just bought a house....
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Old 10-24-2008, 08:25 PM
 
Location: Brentwood, TN
8,002 posts, read 18,576,628 times
Reputation: 12357
We are doing as well as you can do with the situation. The 401K will eventually go back up We moved to a more affordable part of the country, bought a cheaper home and reduced a lot of unnecessary living expenses two years ago.

However, I was going to open up a business in January of 2009, but I'm pretty sure my dreams of that are going to be shattered in a few weeks.
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Old 10-24-2008, 08:49 PM
 
Location: Henderson, NV
7,087 posts, read 8,601,121 times
Reputation: 9978
It's a very hard, stressful time economically for almost all of us. Even for me, I'm comfortable financially, but I have lost a buttload of equity and cash in just the last six months. My stock portfolio has tanked, my condo has lost maybe 12% of its value (not hideous compared to some people, but still not good), an investment just tanked today, complete 100% loss, and most of these things are hitting my dad hard too. I just get nervous for the family business and hope that he is doing ok still, because I know whatever I've lost he's lost a lot more, so it's hard to sleep at night sometimes just thinking about the financial landscape. And I just opened a business in this climate, so that makes it tough too, makes me nervous about trying to find clients in this economy. There are times I think I should be back home helping with the family business, just in case, but I think these bad times will turn around and lead to more prosperity in the future. It's just a particularly bad downturn. Stock markets are down about 40% on average.

I feel sorry for all of the people who are close to retirement age and have lost so much money on this crappy market, because it just really hurts, to see your assets eroded like that. Thinking about all of the hard-working people who have suffered economically lately because of this is definitely a sobering reality. It's not going to recover any time soon, that's the hard part. Maybe two years from now things will be going fairly well again, but the market won't return to 14,000 any time soon. I wouldn't be surprised to see it take 4-5 years to get back to that level.
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