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  #121 (permalink)  
Old 11-20-2008, 09:38 AM
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I'm glad that I moved my 401K to the safer side. I just checked and last month the stock fund lost 35.5%. Ouch.
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  #122 (permalink)  
Old 11-20-2008, 01:23 PM
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Another -443 points as we see the Dow headed rapidly through the 7000 range and headed for the 6000 area.
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  #123 (permalink)  
Old 11-20-2008, 02:00 PM
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I may be headed rapidly for a cheaper place to live. What states have no sales tax, Nevada and . . . .?
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  #124 (permalink)  
Old 11-20-2008, 02:47 PM
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I didn't google it, but I don't think New Hampshire has a sales tax.

This is bad. Really bad. I'm sitting here looking at what household expenses I can reduce or eliminate.

A while back I was running around here telling everyone not to panic, that it was just a cyclic thing. That was in the good old days when the market was bouncing between 10000 and 12000. 3000 negative points later - as we careen downward toward the 6k mark - I am officially retiring as a cheerleader. Think of it - a little over a year ago the market was at 14000 and it is now half that - in one year. The losses are in the three trillion dollar range by now. Trillion. It takes one thousand billion to make a trillion. It takes one million million to make a trillion.
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  #125 (permalink)  
Old 11-20-2008, 02:58 PM
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Where's my bailout? Where's my rescue package? All we have is our Social Security and what we can withdraw from our IRAs, which according to all retirement calculations should have been enough for 30 years. Well guess what!!
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  #126 (permalink)  
Old 11-20-2008, 03:03 PM
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Remember the good old days when a bad day was -100? I am not so sure the powers to be know how to stop the bleeding.

We thought about moving out of State. Turns out we can not get good insurance if we do. We PAY for Medical Insurance from my wife's old school. None of the plans will let us leave. Plus because her retirement is from STRS, State teachers retirement system, we would pay California tax anyway.
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  #127 (permalink)  
Old 11-20-2008, 03:06 PM
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The market was up almost 200 points around mid-day and then Congress announced a delay on the Big 3 bailout and the bottom fell out again - so the swing was actually over 600 points.
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Old 11-20-2008, 03:30 PM
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I am not 100% in favor of the Big 3 Bailout, but if we do not do it I think things will get worse. I do not see how the House and Congress can think about going home for the remainer of the year with the mess we have.
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  #129 (permalink)  
Old 11-20-2008, 03:56 PM
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I was opposed to all of the bailouts, but the reality is if not helping the Big 3 leads to disaster across the board then what other choice is there? In the big picture, they are asking for 25 billion - comparative chump change. I hate it, but I am going to have to support it

These are times when we'll see who are the leaders and who are the political hacks. I liked one Pennsylvania congressman I saw on the news tonight. He looked sort of like LBJ but he was tough on the GM CEO and asked good questions - not the typical drivel that is meant to score political points.
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Old 11-20-2008, 04:38 PM
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The question is how are they going to pay it back. I say just divide it out and issue a few stocks to everyone....
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