Yesterday the stock market was in freefall. The bailout seems to be heavy on everyone’s mind lately. I don’t think it is good, but I am glad for the distraction from the election and politics. But my question today is; how will this affect us? Have you felt financial pressure because of all that is going on? Is this directly impacting you? Have you personally encountered a change in how you are spending your money because of what is happening in the U.S. economy? Personally I am sure my retirement accounts look more like a checking account, hopefully enough to buy groceries for a month or so, but certainly not enough to retire on. As we travel through the ups and downs of life, how is all of this impacting you? What changes are you making, if any, during these times?
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I’m hoarding food and weapons. We call it “doing my part” in Texas.
Not really. In all honesty, I’m trying to figure out ways to buy real estate. It’s like a fire sale right now, and I say let’s get it while it’s cheap. After all, nobody’s making any more land.
As for the bailout. I’m not sure the $700B plan that was shot down was the best they could come up with, but the general sentiment of America that “it’s Wall Street’s problem, why should taxpayers or the government have to fix it,” speaks to the general lack of understanding in the public. That lack of understanding largely got us into this mess, and will make it much worse if we can’t figure a way to remedy it. I’m all about conservative values and “you made your bed now lie in it,” but this situation goes way beyond that.
Just remember, the American people didn’t understand what was happening and didn’t allow the government to do anything in 1930 either. Look how that turned out.
My 401k looks more like a 201k…