I am young and mange my money well, as other lose in the market I am making profits everyday. If you are skilled and smart you will be fine in this market. The main issue is that folks would like the govt. to "Bail them out" when each of us should look to ourselves to pull us up. What is the long term effect of the govt. now buying stock in privt. companies. It is in time of crisis that govt. will take your freedom in the name of the saving you. Lets all tell the govt. to go away.
#1 - Fri Dec 5, 2008 3:54 PM ESTI already was advised that my hours may be reduced soon from 40 to 25 & all benefits taken away (no more medical, etc.) With a family of 4 who depend on me, a terrible situation. Just writing this makes me feel like crying. How will I explain this to my wife and kids.
#2 - Fri Dec 5, 2008 4:18 PM ESTI feel your pain as we have experienced similar circumstances. Don't give up. I'll be thinking of you and the millions more of us that are there too.
There are alot of us in the same boat with you. All hours have been cut, people have been "let go" (Including my wife @ her job), x-mas bonus gone, overtime gone, etc... It is hard on us all, but we will persevere and make it through this.
I work in construction - my partner has lost his job already. My company was gone from 600 to 200 employees since June. Every day I am worried that I will loose my job. I only hope things start to turn around soon. The sooner Obama get into office the better
#3 - Fri Dec 5, 2008 4:33 PM ESTHas it gotten better now that Obama is in office? Did he fix your companies problems?
I work in construction and my partner has lost his job already.in the same field with the same company. Our company has gone from 600 to 200 employees since June. Every day I am worried that I will loose my job. I only hope things start to turn around soon. The sooner Obama get into office the better
#4 - Fri Dec 5, 2008 4:35 PM ESTI also work in construction. Since Aug. 08 our work force is down by 39%. Our gross volume is off by 31% for 2008. All indications are for a continued down turn for at least the next six months. If you think Obama will be your savior, you are in for a really long wait and giant surprise. Hope you have alot of cash reserves, you'll need them.
I am completing my Masters degree in Psychology this year. I have two teenage girls and went back to school because the human service filed pays poorly unless you move up on an educational level. However, because many positions and agencies are either partially funded or run on grants I worry that there will be less opportunity for me by the summer.
I used some of my investments to pay for school so at least I don't owe on loans, however I will soon have one child entering college and will need to work. What is left of many of my investments I had set aside when working are at half their value. I worry for my daughters, what a mess they are inheriting.
#5 - Fri Dec 5, 2008 4:39 PM ESTWe have been advised of a hiring freeze and are already looking at ways to cut out budget for employees here. Just within the last month we were commenting about the surrounding states and how we had seemed to hold on pretty well here in Kansas. Being in the center of the country pretty much we have been lucky up to that point in regards to the slowing economy, but as of December 1st we have been hit right between the eyes and are taking a hard hit. Our State budget is being hit very hard and funding for the schools are looking bleak. Those of us in public education are holding our own for the moment, but have been warned of more cuts coming soon which could result in lay-offs. Of course the Aircraft industry here has already take a huge hit and have already started laying off.
#6 - Fri Dec 5, 2008 4:40 PM ESTWell I have now been laid off twice in that past sixteen months......... I am in a small town and truly there are no jobs here, including fast food places and discount retailers. I am a licensed insurance agent, there is no work here....... agents are running there offices without any staff to cut costs. And this is just the beginning, I think it will get a whole lost worse.
#7 - Fri Dec 5, 2008 4:41 PM ESTI collect delinquent taxes for a state government-----job security!!!!
#8 - Fri Dec 5, 2008 4:43 PM ESTI think that a lot of folks are in denial. 40% who think their jobs are safe? I hope they're right but I wouldn't make plans for any big expenditures in the next year...
#9 - Fri Dec 5, 2008 4:46 PM ESTI feel like the Titanic is going down and I am holding on for dear life....
I have no savings, a big mortgage, a child with disabilites....
I am watching this situation very closely. I want to keep my hopes high, but with so much uncertainty this is very difficult to do.
No Christmas gifts this year. Just stay close to home and for dear sake hang on
#10 - Fri Dec 5, 2008 5:02 PM ESTI am a small builder; I have not built a home in 1.5 years, I have been able to pay the bills each month by spending my savings, now that my savings are gone, no work in the near future, where do I go from here? Next month, how does my family eat, how do I pay my mortgage?
Desperate American
#11 - Fri Dec 5, 2008 5:13 PM ESTButch,
Been there and done that. Here's my suggestion. Go find a job at Wal Mart or a Grocery Store and put food on the table. That's what I did when my business failed in '95. Yeah, it was grim for awhile but you can fight to survive. Don't give up, pal ... you can get through it. No, there won't be any luxuries - but don't lay down to this.
- Max
I feel the same frustration. I am retired military. I retired in 2006 and the wife and I took 8 months (she left her job) to travel in our RV and work at parks and campgrounds to try and adjust to civilian life. We put the house up for sale in 2006 to get a smaller place, but its still not sold. In 2007 I took a low paying mid management job (11 months) but after 22 years of military it didn't work out. We started a business in 2007 with every bit of our savings and credit resourses. but it's now declining every month, not increasing. We spent all our savings and now will probably loose the house and the 160k we paid into it cash for renovations and down payment just to keep the business afloat, but probably the 150K in the business also. I know that my situation is better than a lot, at least we dont have kids at home to feed. and I do have medical coverage. but seeing 25 years of hard work and all the niceities around the home fading away is sad. We have never been unable to help our kids in the past and never missed a payment in over 20 years. Now we are down to 1 vehicle. Yes some of it is my own fault, but seriosly who would have thougth a home would not sell in over 2 years. We never had a house on the market 30 days before in our lives. I threw all the cards on the table to have the American Dream, Did my 22years of service, started a business and I guess my timeing was not so good. I (hopefully) have 20 years to catch back up for retirement age, but I really feel for the young couples and elderly - I honestly can't go to the local fast food restaurants anymore and see senior citizens wiping tables, it's just not right. Unemployment is over 9% in this county and it's a domino effect. Its a rolling S*&^Ball.
I make video games. Our business is exploding right now. When people don't want to go out on town, don't want to go on vacations, and don't want to blow money on expensive luxuries, there are still a few markets that are well-off. I'm lucky to be a part of one of them.
#12 - Fri Dec 5, 2008 5:17 PM EST"Had a job in a prison, 'secure' job with the state, at least until May, when they said I didn't rate.
After nearly 20 years, we don't need you no more-so hit the bricks and don't stop at the door!"
1 of 701 prison jobs eliminated! Governor doesn't want to raise taxes and my guess is round 2 of eliminations is coming up!
Lucky I had enough time/age to retire but others didn't. Only 'secure' job is being an inmate!
#13 - Fri Dec 5, 2008 5:17 PM ESTAll my life I have trusted in my Lord JESUS CHRIST and He has never failed me. While I am concerned about my future I choose not to worry because Jesus has promised to take care of me. I live for HIM by faith. For me it will be okay always.
#14 - Fri Dec 5, 2008 5:27 PM ESTYou let us know how that works out for you. The people I own money to (Mortgage, Car payment, etc...) only take CASH.
TR_966
Owned several businesses and nearly lost 2 of them to foreclosure and bankruptcy. My God supplied all of the CASH I needed to keep the collectors at bay. I have never taken bankruptcy and have managed to pay all of my bills although several lawers and finanacial planners said I should throw in the towel. A miracle I survived financially? Myself and several others (all professionals) say that it was. Philippians 4:19
I'm glad you are trusting in Jesus Christ to provide. Just remember that the Isrealites wandered in the wilderness for 40 yrs and trusted God to provide mana from the sky on a daily basis. Yes God does provide, however you need to have a realistic view of what that may involve. We are not guaranteed a house or even a warm building to live in or even 3 hot meals a day. If we go into a depression in the USA, which will happen if the car industry goes bankrupt, don't blame God if you loose your place of resident, etc. God has allowed his children to be homeless before. Pride comes before a fall and we have such pride in our capitalistic country. The lack of compassion towards the poor is so apparent in this country. I think I'll just let God be the judge. By the way, I don't think God is a capitalist.
I worried about losing my job. I want to ask that who (persident? commerce? treasure? bank?) is the most responsibility for finacial crisis which lead to many people losing the jobs and home and benefits? Don't you think the most responsibility leaders should resign? Because of their failure or worst policy,many of people losing their jobs, homes, benefits, so they should also give up their benefits, such as retirement benefits, etc..
#16 - Fri Dec 5, 2008 6:07 PM ESTEach day the office seems to get quieter - and I'm so lucky to have a desk to be at! I was cut from a job in October and managed to get re-hired at a office that I had worked for last year, but left when my hours got cut to 24 a week, and then the job after cut their staff after I was there for 3 months - but the phone is not ringing for hours and there is only so much busy work.... and I work in insurance, no phones ringing is not a good sign. I am scared
#17 - Fri Dec 5, 2008 7:11 PM ESTif your worried about losing your job pleases visit my web sit at
or worried about :
*losing home *being laid off *more time
*retirement/social *identity theft *need o make more money
#18 - Fri Dec 5, 2008 8:48 PM ESTSaw this coming. Sold my house in San Francisco in 2005 for an obscene profit, relocated, bought a house paid in full, shed all debt, put a wad of cash in the bank. Self employed (medical software), $2M revenues, 30% profit, 6 employees, 90% sales international. Having our best year ever. Angry about tax burden (2nd highest in the world). Thinking of backing-off, maybe retiring early. Why should my success and hard work be punished?
#20 - Fri Dec 5, 2008 9:23 PM ESTIf you invest wisely you can defer much of that tax "burden" that you're whining about. (If you can gloat and whine at the same time, there is something fundamentally wrong with you.)
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I am near retirement age and working a temp position. I have arleady gone through what little pension I had. Unemployment will pay rent onl