I just went to msn.com and at the top it says BREAKING NEWS: "House votes "no" on bailout plan.. stocks plummet" ...I scroll down and its down over 400+ points...this could get ugly....
ugh
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Yeah its really horrid! We lost over 20k in wamu stock last week, just POOF GONE! Such a scary time. I'm hoping that we recover by the time we want to retire.
The good news: As long as oil prices our low, our dollar will be stronger. The bad news, if you plan to retire in the next couple of years you just got hosed.
I am opptomistic that this will not be a bad thing. Small local banks are the one's who will survive since they did not may any subprime loans, and are generally conservative with their money.
I told DH as long as he gets a paycheck, we will be fine. Once he doesn't I have to go back to work. Lucky for me, the places I can work will never have hiring freezes since I am considered essential personel.
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Re: Oh No...this isnt good...
I'd pull money out fast. Oh, and grab a shotgun just in case. lol
The last thing we want are bank rushes....if you're divirsified, you should be okay. Take a hit, but be okay by the time you retire.
These are *definately* scarey times though and I don't know if it's good or bad it failed.
The good news: As long as oil prices our low, our dollar will be stronger. The bad news, if you plan to retire in the next couple of years you just got hosed.
I am opptomistic that this will not be a bad thing. Small local banks are the one's who will survive since they did not may any subprime loans, and are generally conservative with their money.
I told DH as long as he gets a paycheck, we will be fine. Once he doesn't I have to go back to work. Lucky for me, the places I can work will never have hiring freezes since I am considered essential personel.