Dow: 6726

[DisneyMomOK]

I am terrified where this will end.

 

[wvjules]

What does that mean? I know it means trading is down or something like that but what does it mean to the average man on the street? (Other than stocks/retirment.)

 

[DisneyBamaFan]

Stock prices are not our concern - jobs are...

 

[JARNJ3]

darn AIG - that was the first financial institution to go "down."

And now they are back for more. Supposedly, if AIG wasn't "saved" the whole economical structure would bust.

 

[breezy1077]

I think we all know where this ride will end OP.

 

[Amii]

Stock prices are not our concern - jobs are...

Tell that to an elderly or disabled person who has lost just about everything they had to live on.

 

[breezy1077]

darn AIG - that was the first financial institution to go "down."

And now they are back for more. Supposedly, if AIG wasn't "saved" the whole economical structure would bust.

And that is why I say - let 'em fail!!!!

 

[DawnCt1]

I am terrified where this will end.

There is a saying in surgery; "All bleeding stops". One way or the other, all bleeding stops.

 

[DisneyBamaFan]

Tell that to an elderly or disabled person who has lost just about everything they had to live on.

An elderly person who still had their money in the market is like an elderly person who took their 401k to Vegas. Hard to feel sorry for people who behave foolishly...

 

[DisneyMomOK]

Stock prices are not our concern - jobs are...

I agree manufacturing jobs are a necessity to retain a strong middle class, but a stock market at possibly 5000 is hurting lots of people who are retired or looking at that event in, what they wish, the near future.

 

[AlexTina]

I heard talk this morning of a DOW at 3500 . I've been sticking with it so far but I think I've reached my limit. If it begins to go back up in the future then fine we'll jump back in but for now after loosing at least $40,000 I think were done . As long as BO is in the oval office with unlimited access to America's check book it's not going to go back up.

Tina

 

[DisneyMomOK]

An elderly person who still had their money in the market is like an elderly person who took their 401k to Vegas. Hard to feel sorry for people who behave foolishly...

My mother lost her husband (my Daddy) of 70 years in August. He was the stock guru; it was in her trust. She has been unable to even talk about doing anything with her account, despite the fact she knows she should. She is scheduled to go to ML this week with my Sis. Whether she makes it or not, who knows. But thinking that elderly people can easily wheel and deal their accounts (especially large ones), is less than realistic.

 

[SteveInBrooklyn]

Nouriel Roubini says that the banks have to be fully nationalized. He seems to know what he's talking about, and he is well-respected among those in-the-know.

As for the market tanking, it is scary and I feel sorry for the people whose retirement savings have been reduced by as much as...50%?...60%? That's awful.

Personally, however, I could use a 6 month govt-paid vacation. If I get laid-off I wouldn't mind a bit.

 

[DisneyBamaFan]

My mother lost her husband (my Daddy) of 70 years in August. He was the stock guru; it was in her trust. He died in August. She has been unable to even talk about doing anything with her account, despite the fact she knows she should. She is scheduled to go to ML this week with my Sis. Whether she makes it or not, who knows. But thinking that elderly people can easily wheel and deal their accounts (especially large ones), is less than realistic.

I don't want to get personal, but no financial advisor worth a cent would allow those who are close to retirement to stay heavily invested in equities. Only those with 20+ years left in the market should be invested in equities right now...

 

[PeterPan09]

I don't want to get personal, but no financial advisor worth a cent would allow those who are close to retirement to stay heavily invested in equities. Only those with 20+ years left in the market should be invested in equities right now...

If you had 5 years or less until retirement, financial advisers were saying "get out of the market" at least a year ago-probably further back than that.

I've got 20 years to go at least, so I'm riding the coaster.

 

[JimFitz]

Personally, however, I could use a 6 month govt-paid vacation. If I get laid-off I wouldn't mind a bit.

Now that's ambition!

Oh, I forgot....Barry will save you.

 

[DisneyBamaFan]

If you had 5 years or less until retirement, financial advisers were saying "get out of the market" at least a year ago-probably further back than that...

Yep - They have been saying that as long as I have been investing - at least 20 years...

 

[JimFitz]

I am terrified where this will end.

Somewhere in the low 5k's

 

[SteveInBrooklyn]

Now that's ambition!

Of, I forgot....Barry will save you.

I say if you're gonna reach for the stars, reach for the lowest one you could find.

 

[RitaE]

What does that mean? I know it means trading is down or something like that but what does it mean to the average man on the street? (Other than stocks/retirment.)

Pretty much means that Investors (ie people with money) have less confidence in the American Business structure, so they are pulling their money out and putting it elsewhere -- be that in bonds or savings accounts, or overseas in foreign companies or stuffed into their mattresses.

As investors pull out more of their money, companies become less valuable and less business gets done. Layoffs happen, companies close, new businesses don't start up because there is little capital available.

On a personal level middle class America is losing billions of dollars right now in their retirement funds and pension funds. Which makes it even more unlikely than before (and it was pretty unlikely before) that most of them will be able so support themselves in old age without more Government assistance and/or continuing to work for as long as they can still stand up and breath air.