Question of the Day | 10/09/2008 12:00 am
The Dow closed at an all-time high a year ago today. How has the current financial free fall impacted your portfolio or savings?

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Read more about: Business, Depression, Dow Jones Industrial Average, Finance, Money, Recession, Retirement, Society, U.S., Wall Street, World
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Patty E - I think your story is becoming more and more common. I have seen friends cash in their IRA’s to pay for their elderly parents medical and end of life expenses, or for their childrens’ college educations because they don’t want their children to begin life with $30,000 worth of debt. Saddest of all, are the stories of parents draining their accounts on medical bills for their young adult children who no longer have medical coverage.
My husband was let go from his job after 24 years. He is also not old enough for social security. He was able to pick up contract work for a while but the economy has gotten so bad that the grants just aren’t out there so he has not had a job for over a year. Luckily, we’ve lived in our house for 25 years, drive old cars, have our money in CD’s. I had a friend ask me now that my daughter was in college if we were going to downsize—but we never “upsized”…..so we really don’t have many areas to make cut backs
I have a brain tumor coupled with a chronic disease that keeps medical bills high and me in a constant state of worry over the cost of health insurance and healthcare. And yet, we are in great shape compared to so many.
It makes me so angry that we have come to this point. The public has been outspoken against the unfair CEO’s compensations, the Enron type accounting, the lack of regulation, the dismal condition of our healthcare system. But it is quite obvious that if you don’t have hugh sums of money to hire lobbyists to buy influence, We the People have no serious voice. How can that be, when there are so many of us?
G V, It is my opinion that we are in the midst of a movement to be heard. ‘WE the People’ are mad, and we are making it clear, we will not accept this anymore! I lived in Houston when Enron went down, and I had good, good, friends who lost everything. Houston was able to absorb many who were without employment, however, but with jobs that paid $10 and $12 per hour, instead of salaries of $60,000 and above. But people made the biggest difference. By wrapping their arms around each other, and saying thngs like ‘you’ll make it thru this’, we are all here to help you”…..it wasn’t as bad as it could have been—but is was b-a-d! “Community” makes the difference…and for the first time that I can remember, this is the first time America has become ‘community’ since the 1960’s. Between then and now, it was everyone out for herself….(ok—or himself). We will get thru this—
I wrote this poem back when we all learned steroids were responsible for the success of several athletes—-but I do think it is appropriate for those on Wall Street who have ‘won’ our money, in the lottery game they were playing with our money, my money. I am especially disgusted that not only did they stab us, but that it was coupled with the twisting of the arrogance knife.
Achieving the Goal
Though the result be noble
one must trust
That no law was broken
and the dealer just
For a crooked approach
can mar and invalidate
The most fantastic
product we ever create
If I took a pill
to make me stronger
Shall I enjoy the fact
that my ball flew longer?
Will I blame the ones
who question my achievement
For reducing my joy
into abject bereavement
Or will I know that I took
an easy roll
To reach what is and should be
a lofty goal?
That I made some plays
outside the Game
To gain my fortune and
win my fame
No my friend, to myself at least
True I must remain
If I ever cheated
there’s only one to blame.
_________________
I always tell the truth, even when I lie.
I have read all the posts this morning and was feeling pretty good about my life. Figured it was in pretty good order. Received my “portfolio” (just a few inherited stocks) yesterday and dumped it in the round file because I just ride these lows out and read the thing again when the market stabilizes. BUT, in reading all of the problems this morning I had forgotten one thing.
About 9-10 years ago our family (sons, their families, and the two of us) decided that we would stop all gift giving (Christmas, birthdays, etc.) within our family because it had gotten ridiculous. A pain in the neck, in fact. So
our sons came up with the idea that we would fund a scholarship at our local high school for a student who had the grades and community service, etc.
to be accepted at one of the top 100 universities in the country but, even with scholarships and student loans, could not attend. The scholarship takes care of all four years. The students stay in touch and they have all had successful educations. This is not a “pat myself on the back” statement. I had forgotten that the seed (and those were pretty big seeds) and the annual donations that we all make to the fund are managed by an investment manager. We have four kids in university at the same time. I now have to
shore myself up and make the call to the company who manages the fund.
Keep your fingers crossed for our family and all those kids who are depending on us.
Hey Girls I get this email I belong to Natural News and this is what i told people 30 years ago …wish i would of took my own advice and bought gold …I have read the Bible …several times and all religions …I cant get out of my head what Jesus Christ said > A pound of Barley for a days wages …thats how it will be in the end of Days …and also Jesus told the men with him when they asked what wil it be like before your return …Like The Days of Sodom and Gomorha and they are Here ….Gay rabbis in GODS HOly Temple in Jerusalem …right now …somthing the Media doesnt tell ya …I know I read other than American news …well here is the part I copied for ya ..to read …>U.S. Treasury Freezes Gold Mints, Gold Coin Sales
As of yesterday, the U.S. government has shut down its gold mints. No more official gold coins are being minted in the United States of America. The sales of all U.S. Treasury gold coins has been frozen until further notice. All American Eagle gold coins are sold out across the nation. There are simply no more coins left.
Why would the U.S. government freeze the production and sale of gold coins right in the middle of peak demand for those coins?
There are two possible answers to this. The first reason is called “Executive Order 6102,” signed into law in 1933 by FDR. You can read about it here: http://en.wikipedia.org/wiki/Gold_confiscation
The second reason — which I admit is speculative at this point — is that the mints are being converted over to stamp out coins in a NEW currency designed to replace the dollar. When the dollar collapses (which could happen in a matter of months or years, depending on the global finance situation), the U.S. needs to be ready to introduce a replacement currency, at which point the citizens will be offered perhaps five cents on the dollar to exchange worthless dollars for the new currency. By the way, there is speculation that the new currency will be the Amero, but I should warn you that a lot of the information floating around the internet on the Amero is pure nonsense based on privately-minted “Amero” coins that have nothing to do with the U.S. Treasury.
In any case, the U.S. gold mints have been frozen, and gold coin sales from the mints are frozen. Historically, this is a possible precursor to gold confiscation. It is a sign that the federal government is desperate in its attempts to limit the financial options of the People. The government, simply put, doesn’t want the People to be able to buy any more gold, because there’s a rush right now OUT of the dollar and INTO gold.
What does all this have to do with your paycheck? Once again, if you work for any government — as a teacher, police officer, accountant, administrator, park ranger, university professor or otherwise — your paycheck is right now based on a system that is crumbling with each passing hour. Whether it will still exist twelve months from now is little more than a wild guess.
Financial security means having control over the sources of your income, and if you work for somebody else right now, you don’t have that control. Although going into business for yourself isn’t for everyone, I genuinely believe it is currently the best avenue for attaining control over your income and protecting yourself from the economic turmoil we’re watching unfold.
Most people don’t know how to start a business, or even how to control expenditures. That’s why I put this report together: To show people how to avoid the common mistakes while finding an income stream idea that’s aligned with your own interests. I teach you the five ways to market anything, and the seven ways to build income streams on any topic (there are only seven ways, period). This report is packed with ideas, resources and even links to a few income streams you can get off the ground right now. Everything is low cost and low risk. Get all the details yourself at: http://www.naturalnews.com/Report_Financial_Safety_Net_0.html
Finally, I want to emphasize that all successful income building requires effort. Every idea you’ll discover in this report requires you to commit time, effort and intention to the project. These aren’t “do nothing” ideas. These are solid, proven income stream generation strategies that will work as well as you apply effort to them.
Building your own income stream takes hard work. Be prepared for that. But with the information offered in this report, you’ll have valuable guidance to make sure that your time and effort pay off with the highest rewards possible.
Protect yourself from the economic turmoil. Take action now while the window of opportunity is still open.
http://www.naturalnews.com/Report_Financial_Safety_Net_0.html
I will tell you sweetie ….I had the American DREAM …I built a Plantation House 2,500 sq foot with my own hands …even the foundation I dug myself ! When Clintons where in Office ….I had health Care and a JOB and my Husband had a Very Good JOB with a 401k and Health Insurance …..The day before 911 I could hear hammers and nails and building going on …I lived in the country then …and it was booming …..our place ….Then the day after 911 >>>I heard >>>>>>NOTHING ! Then it was a few months later my husband was laid off …He is a BODY MAN ….. fixes wrecks …OK then …He had to drive to MEMPHIS 100 Miles each way ……But then the GAS The GAS$$$$$$$$$$$$$ we were barley making it …… So we had to sell and took $40 grand less …$40 grand less ….because of this Bullshit BUSH did ! We had NO CHOICE !!! I LOVED my HOUSE !!! I BUILT THAT HOUSE …With the MONEY I MADE and SAVED !!! With my own 2 hands …it took me 2 years to build it … I had a ART ROOM …I paint …I draw …Now I have no room for my stuff …in a room …. and no one is buying my stuff …..so it doesnt matter now …no one has the money …to spend …Where my Husband worked it DRIED UP no one was fixing their cars …They took the insurance money and didnt fix their cars …We had no choice He had to go to Memphis …100 miles there and back ….talk about a tired man ..I saw my husband age 20 years ! And he doesnt even drink ! Like that Drunk Bush …he is all over Youtube drunk He is a ALCOLHOLIC !!! And he has made America go down the TOLIET !!! The Drunk has made this country a 3 world country ! By his ALCOHOLISM ! Ya know I may have had what you call ISSUES …. But not to me they are everyday LIFE …I worked and WORKED HARD ….There is not a easy job out there for me …all my JOBS went to Mexico …and when BUSH failed to CLOSE the Boarders …when all my Jobs went to Mexico ….they soon left there and went to CHINA …so all the Mexicans came here ….and ya know that SOB gives them SS and they never worked a day here in America ? OLD MEXICANS who came here with their kids DRAW a SS CHECK ???? Did ya know that ??? And when my husband lost his job and I had no health care ….I was told to go home and DIE at the COUNTY Hospital and as I was leaving I saw all these MEXICANS being treated ?????
OK, NOW I’m gonna get down… you need to get your head outa your ass before you fart and blow your brains out… oops! too late.
I don’t believe that kind of comment adds much. You once told us about your belief in The Rapture. Everyone has a POV.
Eliza we see different things around here…I see Mexicans having babies and then deported that same night w/ their babies…Its pretty sad if you ask me…My Mom lost her job of over 20 years b/c her company shipped the jobs to Mexico and Canada…It happens, it does hit smaller towns more or as you say Country towns more b/c jobs are so few and far between. My Fiance’ is from a small town in WV and man that little town has fallen on very hard times but you know what the people are still upbeat and happy…They are alive, loved and they are making the most of what they do have…Most of them dont even own computers b/c they cant afford it…so some of us are doing much better then they are…yet they dont complain when the winds off the mountains take 1/2 their trees down and destroy homes they they built from the ground up…they just get together and fix it…I guess it comes from when you dont have much you learn to appreciate the little stuff you do have more so when you loose something its not that big of a deal…
Oh well…Eliza I do wish you well but you seem to be very bitter, and for good reason…I do know that many Mexicans draw ss checks, you sound as if you hate these people? Right now you seem that you just hate the world? I drive over 100 miles a day back and forth to work, 5 days a week…Yes I pay the gas but I also cut back on other things that werent needed as much, such as going out to dinner 2 or 3 times a week, we stay home now and cook…Oh well Eliza I truly feel there is no talking with you b/c you just hate and that isnt something I like to do…hate………
GOOD cause your a REPIG and I do Not Like REPIGS they TWIST everything to FIT Their AGENDA’S …..Your a very WEAK Person ….I am Clairvoyant …..
Eliza…one of the commandments for this site is to not call someone else names…and that is exactly what you do in almost all your posts…calling me a REPIG, wow, that goes to show if someone doesnt agree with everything you say they are automatically REPIGS…Just like you did with John who was trying to show you compassion YET you said you would sue him for harrassment….hmmmmmmmmmmmm…
You are not clairvoyant when it comes to me my dear…I am not a weak person, I am a very strong person and IF you ever got the chance to know me you would see that. I have a strong bond with GOD and with my family & friends…I live my life and treat others as I would like to be treated…I know you are bitter b/c you have lost so much but so has other people…You make the best out of what you do have left not what you have lost…live in the present not the past…It sucks what happened to you and your husband but there are others who are far worse than you are…You were blessed with a great life & I can tell you most of your issues I am sure are stress related…When I was stressed my body did some crazy insane things…Letting go of some of your hatred may reduce some of your health issues…
I will pray for you and your family and that you will see the good still left in life, not our POTUS, but YOUR LIFE…stop blamming someone and get back to living!
Eliza…how do u know who I am voting for? So now I wont buzz off b/c this is a public website and I can say what I like just as you can and do! I think you just need to calm down and breath!

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