remphish1 Posted October 6, 2008 Share Posted October 6, 2008 New record one day drop! Down 785 today so far! Holy Crap! Quote Link to post Share on other sites
mountain bed Posted October 6, 2008 Share Posted October 6, 2008 Let's face it kids - the financial chickens have finally came home to roost. Call it what you want..Voodoo Economics, Trickle Down (although I prefer "Trickle On" - piss on the commoners), whatever. Before anyone gets the wrong impression here, I'm not happy about this. It's a sad sad time. But really, who couldn't see this coming years and years ago? Quote Link to post Share on other sites
MattZ Posted October 6, 2008 Share Posted October 6, 2008 Oh man, I think I am going to be ill. Quote Link to post Share on other sites
remphish1 Posted October 6, 2008 Share Posted October 6, 2008 Let's face it kids - the financial chickens have finally came home to roost. Call it what you want..Voodoo Economics, Trickle Down (although I prefer "Trickle On" - piss on the commoners), whatever. Before anyone gets the wrong impression here, I'm not happy about this. It's a sad sad time. But really, who couldn't see this coming years and years ago? Sure but what are you supposed to do. People have their life savings in 401k's and the market. I fortunatley/unfortunatley only have some money in company stock in my 401k now but it still hurts. Quote Link to post Share on other sites
mountain bed Posted October 6, 2008 Share Posted October 6, 2008 That's it - I don't think anyone knows what to do. Including Paulson etc. We're all in this together though. We will get by. Quote Link to post Share on other sites
bjorn_skurj Posted October 6, 2008 Share Posted October 6, 2008 Those Wall Street bastards are the most ungrateful bunch of fuckers I have ever seen. $700 billion and they still can't get their shit together? Assholes. Quote Link to post Share on other sites
watch me fall Posted October 6, 2008 Share Posted October 6, 2008 Just got my Retirement account statement today. Hopefully that money will still be around for me in 30 years. Quote Link to post Share on other sites
Tweedling Posted October 7, 2008 Share Posted October 7, 2008 "affordable housing mission" Quote Link to post Share on other sites
Guest Jules Posted October 7, 2008 Share Posted October 7, 2008 Sure but what are you supposed to do. People have their life savings in 401k's and the market. I fortunatley/unfortunatley only have some money in company stock in my 401k now but it still hurts. If your (generic) life savings is in your 401K, I would hope it is in low risk treasuries or cash reserves type funds. If not, then it's your own fault. I stopped putting new money into anything other than cash equivalents a couple months ago. The market came back strong the last hour yesterday. They buyers were just sitting by ready to pounce, and they did. The bailout is a load of crap, but we'll be alright. Quote Link to post Share on other sites
remphish1 Posted October 7, 2008 Share Posted October 7, 2008 Yeah it is in low risk funds along with company stock (which has dropped 40% recently!) I only put in 6% or so of the paycheck..still.... Quote Link to post Share on other sites
Guest Jules Posted October 7, 2008 Share Posted October 7, 2008 Yeah it is in low risk funds along with company stock (which has dropped 40% recently!) I only put in 6% or so of the paycheck..still....Yeah, the company stock thing stings. Quote Link to post Share on other sites
MattZ Posted October 7, 2008 Share Posted October 7, 2008 I am not so worried about 401k issues -- unless you are close to retirement age there is (hopefully) enough time to claw back what's been lost in equities. The market's troubles are signs of much bigger looming problems on the horizon -- like a global depression. Inflation, unemployment, etc. are much scarier to me. As Jules pointed out, the market rebounded yesterday and seems to be holding steady today. Everyone that has called the bottom this year so far has been wrong. But maybe (hopefully) we've gotten there. I wouldn't bet on it. Quote Link to post Share on other sites
cryptique Posted October 7, 2008 Share Posted October 7, 2008 I'm not worried -- yet -- about my 401(k). I figure I'm still 20+ years away from retirement. While the market is in the toilet, my contributions enable me to acquire shares at a faster rate -- "buying low." Quote Link to post Share on other sites
PigSooie Posted October 7, 2008 Share Posted October 7, 2008 Down over 220 points today. Quote Link to post Share on other sites
MattZ Posted October 7, 2008 Share Posted October 7, 2008 Down over 220 320 points today. Quote Link to post Share on other sites
austrya Posted October 7, 2008 Share Posted October 7, 2008 My mom pulled all of hers out yesterday. She can't afford to lose any more. If she puts it all in the bank, she might not gain anything right now, but at least she won't lose any more than she already has. Quote Link to post Share on other sites
PigSooie Posted October 7, 2008 Share Posted October 7, 2008 Down over 500. Quote Link to post Share on other sites
MattZ Posted October 7, 2008 Share Posted October 7, 2008 I have started hoarding binder clips because I am confident that one binder clip will equal 25 paper clips in our new currency. Laugh and ignore at your own peril, my friends. BINDER CLIPS!!! Quote Link to post Share on other sites
cryptique Posted October 7, 2008 Share Posted October 7, 2008 I have started hoarding binder clips because I am confident that one binder clip will equal 25 paper clips in our new currency. Laugh and ignore at your own peril, my friends. BINDER CLIPS!!!You're hoarding the tiny ones though, right? Those are small potatoes. I've got like five hundred large ones in my desk drawer ... plus a few SUPER HUGE ones. Quote Link to post Share on other sites
MattZ Posted October 7, 2008 Share Posted October 7, 2008 You're hoarding the tiny ones though, right? Those are small potatoes. I've got like five hundred large ones in my desk drawer ... plus a few SUPER HUGE ones. In any bartering economy the utility of the item determines its worth. Everyone knows those SUPER HUGE ones are vitrually useless. (I hope. Damn, I only started stealing the little ones.) Quote Link to post Share on other sites
mountain bed Posted October 7, 2008 Share Posted October 7, 2008 Hey, those SUPER HUGE ones are great for sealing your bag of generic potato chips, so there's that. Quote Link to post Share on other sites
austrya Posted October 7, 2008 Share Posted October 7, 2008 Hey, those SUPER HUGE ones are great for sealing your bag of generic potato chips, so there's that. Clothespins work for that kind of thing too. Quote Link to post Share on other sites
PigSooie Posted October 7, 2008 Share Posted October 7, 2008 Who gets more than one sitting out of a bag of chips? Quote Link to post Share on other sites
mountain bed Posted October 7, 2008 Share Posted October 7, 2008 Who gets more than one sitting out of a bag of chips?Hey, I tried out those Ray's "Hot Flavor" chips Austrya mentioned the other day and you really do not want to eat the whole bag. They're pretty awesome. Quote Link to post Share on other sites
Analogman Posted October 7, 2008 Share Posted October 7, 2008 Hey, I tried out those Ray's "Hot Flavor" chips Austrya mentioned the other day and you really do not want to eat the whole bag. They're pretty awesome. I seem to have a hard time finding Wise BBQ chips these days. Quote Link to post Share on other sites
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