Anyone watching/listening to the news?

[kdcrws]

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That's rough!!!

We are the only ones in our fam in FL and had been thinking about moving back to TX but when we started seeing all the losses everywhere. We decided to sit tight and not make any changes right now. Thank God my husband works for a grocery store chain and no matter what people need groceries!

 

[Lunachick]

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Most company 401k plans offer a menu of mutual funds and some guarantee insurance contracts, most employees are encouraged to spread their money among various mutual funds and they also offer company stock. A lot of people put their $ into Co. stock and mutual funds which are often invested in the stock market, which are not insured.

Therefore, they suffer when the stock market goes down like today where it was down 10%. A hundred thousand dollar 401k invested in the market in stock mutual funds lost 10,000.00 in value today.

~hubby possessed my body and used me to type this stuff, I'm still trying to understand!

 

[SandraMort]

But 700 billion divided by 200 million adults isn't very much money per person at all!

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[redhen]

thanks luna...you are lucky to have such a smart husband!!...and i'm going and getting my 3.56 cents out of the bank tomorrow!!..those suckers arent getting it!!..

...

 

[d.k]

* Our government has been playing the same game as the banks for YEARS, folks. That National Debt number is the only REAL number there is. THAT'S how much we, as a NATION, OWE-- How much CREDIT we have been extended from other countries. The only question left is WHO holds the majority of our debt??? Who have we sold ourself in bondage to???? THAT answer is NOT going to be good-- you can be certain of that.

 

[mtnhomechick]

We're Talking 700 BILLION divided by I think it's 200 Million people. Think you have to figure all the zero's.

 

[redhen]

so what happens if we default on our russian and china loans?...what can they do to us?...sue us?..i'm just wondering how this all works..this is very interesting for me..thanks, Wendy

 

[@migocontodos~]

God forbid- any of us have to go back to the basics of living.
God forbid any of us not be able to buy our designer cloths, shoes.
God forbid we have to buy a cheap car that is good on gas, or ride the bike or even USE the city/county transit systems.



Yep, it's finally caught up with us.

I'm to blame!

 

[redhen]

this is why so many elderly people would not put there money in a bank again....they learned their lesson before...

 

[the1much]

Quote:
True.....but if our economy fails....who will China and Russia sell to? Europe is as bad as us. They manufacture now and we consume..........what if we can no longer consume our jobs away on credit?

heh,,, china and russia exports more goods to austraila then us,,, they dont need us at all ,, we're just pennies.
guess who's buying up all the oil?,, it aint us ,, china has been for 10 years now,,,so when the arabs run out,, guess who's gonna be holding it all.
our problem in the u.s. is that we THINK we're so important to other nations,,,,we're not,,,cept to the ones we GIVE our money too ta stop their problems. like africa,,,we give them more money then we give ourselves,, just so they can have more kidsss,, and ours go hungry.
look at EVERY nation that deals in the euro now,, every one of em are better off then we are.
401k < stinks ,, is awful they dont tell people before they get into it, that there is actually NOTHING you can do when your 401 goes down the drain caue they took a chance with YOUR money.
and everyone saying "our money is safe in the bank cause its "fdic" ,,,,, how many banks need to go under till that $ disappears?
the ONLY safe zone is precious metals,,,NO other.