How are you coping with all this bad economic news?

[Tcali]

So far...-I find it most effective to ignore most of the talkradio rantings and internet headlines.They only bring us down and ultimately cause many people to want to curl up in the fetal position..-which isn't the most clear headed way to adress our situations.

Its been a big relief to me anyway--esp re: the talk radio whining and the drudgereport type of gloom and doom headlines.

[stuckincincy]

So far...-I find it most effective to ignore most of the talkradio rantings and internet headlines.They only bring us down and ultimately cause many people to want to curl up in the fetal position..-which isn't the most clear headed way to adress our situations.

Its been a big relief to me anyway--esp re: the talk radio whining and the drudgereport type of gloom and doom headlines.

 

I've been more or less keeping away form the radio and tv media about this - I do read articles in the newspaper.

 

I admit to being on edge over the situation. I take an early A.M. coffee at the local McD - pretty much a consistent clientele...older like me. I've noticed that the usual level of chit-chat has subdued somewhat.

[kegtapr]

I watch my bank account grow everyday. Does the trick.

[bills_fan]

Single malt scotch.

[plenzmd1]

Its getting hard for me to be honest. I have been lucky enough that the last two years have been good for the wifey poo and me in terms of earnings, and we have had the ability to really build our bank account over the last year to 18 months. I had a bad feeling about the market and real estate back then, and we have just been building our cash.Mind you, didn't sell off my already invested funds, but thats a discussion for another day!

 

Unfortunetly, I have mis-timed about 50% of that money as I puchased a rental property in August that is prolly down 3-6% since than, and I went full bore into the market around 9500. Now, I have the two heads spinning around me, the one devil saying "it's hit bottom or close too it, opportunity to really set up the next 15 years" and the other devil saying" lots more shakeout to come, forget the S+P at 10 times trailing earnings, those earnings gunna take a whack in the nect twelve months".(notice no angel in this scenario)

 

I am usually quick to make decisons and slow to change them, but I honestly can not make a decison right now which is driving me bat chit!!!

[zevo]

Since I have only been out of school for 1 1/2 years I have not really been to affected by the economy. In fact I have seemed to almost benefit. We sold my wifes house for a sizeable profit when we were told not to expect anywhere near asking price (that was just right place,right time). But we then upgraded into a much bigger home at ~ 15,000 below asking price and got a phenomenal mortgage rate. And now with as low as the market is I am buying up as much as I can( Max 401K and employee stock purchase plan) in hopes the market will turn. But yes I have friends and family who have been seriously effected by the economy, some with large families to feed. It is a sad state of affairs right now, but I know it will come back. Just have to weather the storm.

[HopsGuy]

"So we knew it was going to happen, and it did. The Black Horsemen came and cut down the revelers, even those with the names of virtue engendered like Prudent and Faithful and American and Growth. If you entrusted your money to them at the end of the run, you were luck to keep half. That went, too, for banks whose headquarters were vaulted like cathedrals. Not only did the market go down, it kept going down - the popular averages disguised the extent of the decline. Another day it would come back, but not until the unscarred generation, so bold without memories, had become scarred like its predecessor."

 

I transcribed those words from a book I'm reading, but I changed one word (run was 60s). The book was originally written in 1967 and this is from the preface written in 1976.

 

History may not repeat exactly, but it certainly rhymes.

 

Oh, and the first words from that book? "The world is not the way they tell you it is."

[truth on hold]

So far...-I find it most effective to ignore most of the talkradio rantings and internet headlines.They only bring us down and ultimately cause many people to want to curl up in the fetal position..-which isn't the most clear headed way to adress our situations.

Its been a big relief to me anyway--esp re: the talk radio whining and the drudgereport type of gloom and doom headlines.

cutting back on everything but beer and golf

[udonkey]

I'm going to Vegas next week...

 

I'll either hit it big, or I'll continue to be broke.

[Tcali]

Its getting hard for me to be honest. I have been lucky enough that the last two years have been good for the wifey poo and me in terms of earnings, and we have had the ability to really build our bank account over the last year to 18 months. I had a bad feeling about the market and real estate back then, and we have just been building our cash.Mind you, didn't sell off my already invested funds, but thats a discussion for another day!

 

Unfortunetly, I have mis-timed about 50% of that money as I puchased a rental property in August that is prolly down 3-6% since than, and I went full bore into the market around 9500. Now, I have the two heads spinning around me, the one devil saying "it's hit bottom or close too it, opportunity to really set up the next 15 years" and the other devil saying" lots more shakeout to come, forget the S+P at 10 times trailing earnings, those earnings gunna take a whack in the nect twelve months".(notice no angel in this scenario)

 

I am usually quick to make decisons and slow to change them, but I honestly can not make a decison right now which is driving me bat chit!!!

Plenz don't think we can really time markets. By sheer luck and unluck I have 2 rentals that I still have decent equity in and 1 I'm underwater on. On paper I was rich 3 yrs ago(California) but now its reeeeeeeeeal tight. -I think the main thing is not to panic sell;whether its real estate or stock market.

[Chef Jim]

Economies like this are actually good for my business. But I have been cutting back. I've been going with the Dom '99 instead of the '96 lately.

[IDBillzFan]

So far...-I find it most effective to ignore most of the talkradio rantings and internet headlines.They only bring us down and ultimately cause many people to want to curl up in the fetal position..-which isn't the most clear headed way to adress our situations.

Its been a big relief to me anyway--esp re: the talk radio whining and the drudgereport type of gloom and doom headlines.

All the big, scary headlines and doomsday scenarios will be gone around mid-January. Now that the election is over, there'll be no need for the media to keep scaring people with economic horror stories. Plus, there's going to be a generated international crisis no later than June, and that will get people to stop worrying about the economy.

[pBills]

Not changing a thing.

[aussiew]

I've increased my 401k contribution to buy up more stocks while they are low.

[Acantha]

Getting everything out of the dollar.

[drnykterstein]

I watch my bank account grow everyday. Does the trick.

 

Ya same here. When you don't depend on the country to take care of you, you don't mind so much when it falls apart.

[bills_fan]

Getting everything out of the dollar.

 

Yen?

[Chef Jim]

I've increased my 401k contribution to buy up more stocks while they are low.

 

Winner, winner, chicken dinner!

[Acantha]

Yen?

Different things. I'm really just starting as I've been slowly working on getting my money out of other things so that Im losing what I have. I'm going with Euro Pac to invest in foreign markets, and also investing in metals when the prices are right.

[BillsWatch]

I really have not been bothered by economic news but know I will be soon by all of the attempts to correct it which will need to paid by taxpayers. Those who have managed their money well not investing in risky investments are the real losers in this with those investing in risky ventures being rewarded or being bailed out.