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  • The Economy

    Anyone else out there getting nervous about our economy? The stock market is dropping, financial institutions are folding, and we've got a war that's costing millions of dollars a day. I don't usually get very concerned, however I have in the past three weeks.

  • #2
    Uh, yes....

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    • #3
      I'm hoping the candidates are forced to come up with specific reforms/ideas about the economy. The economic issues should decide the election.

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      • #4
        Finding out all my 401k money was in the hands of a company that was sold today cause me to pause for a second.
        phsstt!

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        • #5
          Oil is back below $100 and falling fast.

          One thing you can set your watch to - when the US economy tanks, everyone else is sure to follow, bringing the dollar back to life. Hope all you oil bulls got out last month.
          There are no strings on me

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          • #6
            Maybe it´s connected to the "big bang-thread"

            Malow wrote:

            What's the worst that could happen?. They inadvertently destroy all matter in our universe? Just think of it as a reboot of the system. 8-)

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            • #7
              No, it's okay. "The fundamentals of the ecomony are strong", I just heard

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              • #8
                Originally posted by rasb
                No, it's okay. "The fundamentals of the ecomony are strong", I just heard
                And we were going to sweep the 800 at Beijing!

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                • #9
                  See why I"m nervous? We didn't even get anyone in the finals of the 800!

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                  • #10
                    Originally posted by SQUACKEE
                    Finding out all my 401k money was in the hands of a company that was sold today cause me to pause for a second.
                    I was wondering when this topic would make the thread. If you are serious about what has just happened re your 401K "holders", please keep us informed about further "episodes". This has been my worst nightmare for many years. Hope the 401s work out and no real financial losses involved for you.

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                    • #11
                      Originally posted by guru
                      Oil is back below $100 and falling fast.

                      One thing you can set your watch to - when the US economy tanks, everyone else is sure to follow, bringing the dollar back to life. Hope all you oil bulls got out last month.
                      The problem is that if the US economy really tanks, all our "creditors" may decide to pull out their money (China, India, Middle East). Of course the whole world economy would then tank, making the Great Depression look like a picnic. Cheerful scenario, for retirees in particular. :!:

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                      • #12
                        I'm losing my shirt. On that score, I counted my polo shirts, and I have 41 of them. $ 5 apiece or highest offers above that will be considered....

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                        • #13
                          I am not an economist, which I hold to be a positive, but as a long time observer and participant in several recessions, depressions and "market adjustments", not to be a Pollyanna, but if you are not unduly leveraged, just sit tight and it will work itself out. Buy if you have the money.
                          The Dow is down 5%. In October 1987 it dropped 24% and worked its way back in about 18 months. If you live long enough the market will recover. if you don't, it will not be your problem
                          Merrill Lynch is just a handler of stocks. If you did not own ML stock, its sale should not affect the value of your underlying stocks or other assests.
                          Lehman Brothers, not as simple.
                          The Fannie Mae/ Freddie Mac mess is a mess. Lots of $$$$ involved but actually only a miniscule pecentage of mortgages nationwide. Tough love but those who over-extended and the lending organizations who abetted them should be allowed to bite the bullet.
                          In the interest of full disclosure, I say this from the perspective of one whose primary income is from oil and gas. I have un-mixed emotions about oil prices. I pucker up at $4.00/gallon gasoline like anyone else but when oil drops from $150 to $100/bbl.....do the math. Personally, I am much better off paying more for retail gasoline .
                          Exasperating the situation, operational and capital costs escalated right along with the well head price of crude oil so I will be paying for expenses incurred based on $150 oil out of $100 oil. On the other hand, I sold oil, briefly, for 150/bbl from wells drilled at costs prevailing when oil was $20/bbl, so, in the long run, it all balances out.....if you don't bail out.

                          Moral: Don't panic.

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                          • #14
                            Originally posted by lonewolf
                            Exasperating the situation . . .
                            This is only the second time in my over 50 years of hanging around this joint called Earth that I have read or heard the word exasperating in this context, one where I would always use exacerbating. The first time was at a seminar by a very smart computer guy a few years back, and it sent me to the dictionary, and I was rather shocked to find it was OK.

                            As for the econ problem, historically I agree with your analysis - other than the Great Depression these things are typically relatively short lived. On the other hand . . .

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                            • #15
                              It is both exasperating and exacerbating, hammy. I debated internally briefly and thought about using both but decided it was redundant and would just be showing off. And, I like to equalize wear and tear on my vocabulary... and dictionary.

                              On further review, exacerbating would better fit the sentence structure. ops:

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