patrick and linda
New member
doesn't that just make ya want to get up and go boating? for those who have lost money in this market, i'll be hosting virtual happy hour tonight!
pat
pat
how about that stock market
- Thread starter patrick and linda
- Start date
Roy and Lucky
New member
What time? Better make it two hours!
patrick and linda
New member
i've checked with my cook, capt. matt, my bar tender, byrdman, as well as our bouncer, dr. bob, all have agreed, happy hour will extend well beyond two hours. now, if we only had some dancing entertainment! i've seen byrdman dance, so, that's out of the question.
Pat Anderson
New member
But, Marty, I hear you will drink to anything!
dotnmarty":2slsm5a7 said:
john schuler
New member
We must be getting to the bottom. Time to buy. Oh ya I don't have any
money left. This can't be good for the boat market, or anything else.
Good luck guys and gals no jumping off high places.
john
money left. This can't be good for the boat market, or anything else.
Good luck guys and gals no jumping off high places.
john
capt. patrick campbell":2l00rkip said:
Well, I wasn't planning on going back to work, but this may change things. I'll see if I can find my tassels and stilettos. Good thing I've been working on that "Abs of Jello" program. Chicks dig the cushy look - it's a sign that I have enough money to eat. 8)
For now.
Try to get that image out of your head.
I am happy to report that we just returned from our first boatless trip to NY state. I am not happy about being boatless , but we do have a nice supply of Terry,s favorite RED CAT. So we can drink our sorrows under the table and will check on the market in the morning.
Fred, Pat and Mr. Grey(the cat)
Fred, Pat and Mr. Grey(the cat)
In case you didn't see it on the other thread...........
Retirement accounts have lost $2 trillion
Tuesday, October 7, 2008 2:46 PM EDT
The Associated Press
By JULIE HIRSCHFELD DAVIS Associated Press Writer
WASHINGTON (AP) — Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday.
The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office.
As Congress investigates the causes and effects of the financial meltdown, the House Education and Labor Committee was hearing from retirement savings and budget analysts on how the housing, credit and other financial troubles have battered pensions and other retirement funds, which are among the most common forms of savings in the United States.
"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."
More than half the people surveyed in an Associated Press-GfK poll taken Sept. 27-30 said they worry they will have to work longer because the value of their retirement savings has declined.
Orszag indicated the fear is well-founded. Public and private pension funds and employees' private retirement savings accounts — like 401(k)'s — have lost some 20 percent overall since mid-2007, he estimated. Private retirement plans may have suffered slightly more because those holdings are more heavily skewed toward stocks, Orszag added.
"Some people will delay their retirement. In particular, those on the verge of retirement may decide they can no longer afford to retire and will continue working," Orszag said.
A new AARP study found that because of the economic downturn, one in five workers 45 and older has stopped putting money into a 401(k), IRA or other retirement savings account during the past year, and nearly one in four has increased the number of hours he works.
:sad :sad :sad :sad :sad :sad
Retirement accounts have lost $2 trillion
Tuesday, October 7, 2008 2:46 PM EDT
The Associated Press
By JULIE HIRSCHFELD DAVIS Associated Press Writer
WASHINGTON (AP) — Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday.
The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office.
As Congress investigates the causes and effects of the financial meltdown, the House Education and Labor Committee was hearing from retirement savings and budget analysts on how the housing, credit and other financial troubles have battered pensions and other retirement funds, which are among the most common forms of savings in the United States.
"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."
More than half the people surveyed in an Associated Press-GfK poll taken Sept. 27-30 said they worry they will have to work longer because the value of their retirement savings has declined.
Orszag indicated the fear is well-founded. Public and private pension funds and employees' private retirement savings accounts — like 401(k)'s — have lost some 20 percent overall since mid-2007, he estimated. Private retirement plans may have suffered slightly more because those holdings are more heavily skewed toward stocks, Orszag added.
"Some people will delay their retirement. In particular, those on the verge of retirement may decide they can no longer afford to retire and will continue working," Orszag said.
A new AARP study found that because of the economic downturn, one in five workers 45 and older has stopped putting money into a 401(k), IRA or other retirement savings account during the past year, and nearly one in four has increased the number of hours he works.
:sad :sad :sad :sad :sad :sad
The stock market sucks but the good news is the price of gas is down by over $1.00 from $4.40 mid-summer to $3.35 (street price) today.
So.............. let go boating and drink to that (Hmmm.... maybe we shouldn't drink and boat - life just gets more complicated).
P.S. SeaWolf - $2 trillion now that is a BIG number
Larry K|
So.............. let go boating and drink to that (Hmmm.... maybe we shouldn't drink and boat - life just gets more complicated).
P.S. SeaWolf - $2 trillion now that is a BIG number
Larry K|
They're saying that
1. Iceland is on the brink of national bankruptcy and that
2. the European Economic Union is in serious trouble too, and that
3. the 27 nations that make it up are all going it alone, and that
4. the economic and political progress made by the EU may all come to an end in economic chaos.
As such, with the situation in the US and much of the rest of the world, a world wide economic crisis and a reorganization and redistribution of wealth may be on the horizon.
(Actually, it's probably already begun taking place over the last 10-30 years.)
Joe. :disgust
1. Iceland is on the brink of national bankruptcy and that
2. the European Economic Union is in serious trouble too, and that
3. the 27 nations that make it up are all going it alone, and that
4. the economic and political progress made by the EU may all come to an end in economic chaos.
As such, with the situation in the US and much of the rest of the world, a world wide economic crisis and a reorganization and redistribution of wealth may be on the horizon.
(Actually, it's probably already begun taking place over the last 10-30 years.)
Joe. :disgust
More news about the stock markets: (It's a brand new day in Tokyo!)
Asian stocks plunge on fears of global recession
Wednesday, October 8, 2008 4:13 AM EDT
The Associated Press
By TOMOKO A. HOSAKA Associated Press Writer
TOKYO (AP) — A meltdown in confidence strangled Asian stock markets Wednesday on accelerating fears that the widening financial crisis could spawn a global recession.
After a miserable day on Wall Street when the Dow Jones industrials lost more than 500 points, investors from Tokyo to Mumbai, Seoul to Sydney dumped shares in a broad regional sell-off.
Anxious investors in Tokyo sent shares into a free-fall, with the benchmark Nikkei 225 stock average plunging 9.4 percent — its biggest drop in 21 years — to 9,203.32, a five-year low.
"Selling on Wall Street triggered further selling in Tokyo. It's like a chain reaction," said Kazuhiro Takahashi, general manager at Daiwa Securities SMBC Co. Ltd. "No one knows the bottom of the ongoing financial crisis, and investors were really spooked by growing uncertainty over the global credit crisis."
Accelerating the pessimism were doubts that finance ministers and central bankers from the Group of Seven nations would unveil any effective measures at their meeting in Washington Friday.
Full story: HERE
Asian stocks plunge on fears of global recession
Wednesday, October 8, 2008 4:13 AM EDT
The Associated Press
By TOMOKO A. HOSAKA Associated Press Writer
TOKYO (AP) — A meltdown in confidence strangled Asian stock markets Wednesday on accelerating fears that the widening financial crisis could spawn a global recession.
After a miserable day on Wall Street when the Dow Jones industrials lost more than 500 points, investors from Tokyo to Mumbai, Seoul to Sydney dumped shares in a broad regional sell-off.
Anxious investors in Tokyo sent shares into a free-fall, with the benchmark Nikkei 225 stock average plunging 9.4 percent — its biggest drop in 21 years — to 9,203.32, a five-year low.
"Selling on Wall Street triggered further selling in Tokyo. It's like a chain reaction," said Kazuhiro Takahashi, general manager at Daiwa Securities SMBC Co. Ltd. "No one knows the bottom of the ongoing financial crisis, and investors were really spooked by growing uncertainty over the global credit crisis."
Accelerating the pessimism were doubts that finance ministers and central bankers from the Group of Seven nations would unveil any effective measures at their meeting in Washington Friday.
Full story: HERE