zzziippyyy

wow thats makes my 4% look like a million right about now

I still say if you have not pulled out of the market do so its still going to drop more. The dow lost over4 % today alone.

1 mistake is saying I want to recover my losses, if you had pulle dout on friday you would be 4% ahead already.

Bass

im in it for the long haul so i am buying low now

Bigcity

I agree with steve. it's too late now to sell, take a long term approach.

PsychoBen

That is assuming companies want to keep the BB's on their staff. I'd think companies would try to save money by laying off the BB's and promote the middle tier guys w/o really a pay raise. Then promote even younger ones for the middle tier so on and so forth. When the BBs' saving ran out and social security ponzi exhausted, the next generation will carry the burden of BB's living cost plus government debt and inflation cost.

This whole thing is one big ponzi scheme started from the very top - the government.

Neutered Sputniks

After reading through all the doom and gloom in this thread, I have to say I understand where Bill and George are coming from (and to a large extent, agree with their sentiments).

Are there people out there who made the right decisions every time and are still getting screwed? Sure. That's life - sometimes you're the dog, sometimes you're the fire hydrant. It's the definition of luck.

But to use someone who was having a rough time BEFORE the economy started to tank as an example of someone down on his/her luck is hardly an accurate representation of "Main st." Especially when his/her choices in the past year haven't been the most financially sound. Choosing to spend every spare dime you can find on purely frivolous entertainment is hardly the key to financial stability. Selling a vehicle outright owned instead of one that has a payment due every month is not the most financially sound decision (unless I'm mistaken, in which case I retract that). When you have to choose between a car (which is your 2nd car and purely for fun) and eating/rent and you choose your car...then that's on you, NOT the poor economy.

Is that harsh? Perhaps. But that's the reality that is going on down on "Main St, USA." MANY poor financial decisions (buying a house you cannot afford) and the general populace are just now starting to make more sound financial decisions (eating out less - whoops, there goes the obesity epidemic, buying only what they can afford instead of putting everything on credit, etc). This is a long overdue slap in the face to those who were not making financially sound decisions. And unfortunately, it's hurting those who did make the "right" decisions.

I'm hurting a little bit, but, that's what I get for overextending myself on my rent (by about 2-300 more than I had budgeted...but my lease is up in 2 months and I planned to live in this apt long enough to learn the area and then find a less expensive place...). I have enough connections that I'll be alright if I get laid off - even with my car payment and other bills. Hell, I can still afford my car, insurance, and cell on unemployment and have a few places I can stay for free (or very low rent).

Point is: I made (somewhat) sound financial decisions. Made sure I would be able to afford my bills even if I should get laid off. While I won't be eating out or watching movies, etc., I definitely won't be on the streets or going hungry.



Jeff, I can't wait for the day that you are looking to buy a high quality item and can't find a specialty shop that carries any because the Walmarts of the world put them out of business. Anything sold at Walmart other than food is generic crap. Pure and simple. And to think that there will always be specialty shops is ignorant to say the least. Specialty shops don't rely on the high dollar sales for their bread and butter. They rely on their mainstream sales - the stuff you brag about buying from Walmart because it's less expensive. Anyway, this is where you put your blinders back on, insert some smartass retort to my comment, inform me that I'm wrong, and talk a little shit just because.

HARDtoTOP

If I can't find it locally, I will order it on the net.

Bass

i think the issue with that is that we've all become accustomed to garbage walmart

there is no quality anymore - it breaks just buy a new one

i am finding older tools and such to be built much better and easier to fix

elmmx5

I think quality is still there most of the time. It's just no one wants to pay for it. Instead they buy a cheaper model and complain that stuff nowadays is junk.

Bass

good point but walmart does not offer quality stuff

HARDtoTOP

I don't buy tools or equipment/product that I need to be durable at walmart, target, kmart or any other discount source.


But I would be a fool to buy a box of cereal or diapers of the same brand somewhere that charges me 30% more for the exact same item. If you have the disposable income to shop somewhere "better", be my guest. I own no stock or stake in walmart and could care less how you spend your money. I am simply saving money on my families needs. why anyone would care how I spend mine is beyond my understanding.