Economy in shambles...

[ShaneFalco]

Is anyone really feeling the pinch yet from the economy going down the shitter? Personally, it hasn't affected me in the least bit. Still have a job, still getting paid the same and it costs be about 15 dollars less to fill up my gas tank every two weeks now. I know theres many that are feeling it I'm sure, just wondering who is and who isn't feeling the pinch...

 

[whalewager]

if you have a portfolio or a 401k...u have felt it

 

[ShaneFalco]

true, i guess its good to be young

of course if you don't need it in the next 5 or so years you should be fine... this really fucks all the people that are about to retire

 

[RobFunk]

My dad told me yesterday that his retirement fund has dropped 80k.

 

[whalewager]

many have lost much more...terrible time for people nearing or at retirement

 

[cussin'it]

Worst hit are retired folks relying on their investments to pay for major health expenses (when that time comes) and those who will retire in the next 2-3 years.

Don't forget municipalites. They have been hammered by an eroding tax base/tax receipts. Projects will go by the wayside. Schools will suffer. Roads will go to shit. Bridges won't get fixed.
Less money for fire and police.

Whole thing is plain bad for everyone.

 

[tiznow]

market carnage lags hitting the streets

 

[cussin'it]

market carnage lags hitting the streets

yeah, but not the foreclosure crisis and credit meltdown. That has a more immediate and direct effect.

 

[gtc08]

add another 5 years of work on for people who couldn't proof there 401k's for this collapse. going to be a killer for the older folks.

younger folks, less jobs out there. should rebound sooner or later. though