10/10/08

America: Where Is Your Bottom?

Wow. So nothing is working (yet) on this financial thing.

No consolation comes from listening to our elected officials and economic experts since it is clear that we are in uncharted territory and no one knows quite what to do. This storm has been building up for so long and has erupted with such suddenness and ferocity, the government is trying to do everything at once – battening hatches, bailing water, repairing sails, reversing course, swabbing the deck, changing crews - hoping some combination of these things will at least keep the ship afloat.

(We won't talk about the fact that many of them saw the ice burg and went, "Gee whiz, check that out." or "Meh.")

So, yeah, the government is trying to fix this mess. Our government. That alone should keep us up at night, given that they are one giant clusterf*ck even when our pants aren't down around our collective ankles. *

What is your main concern for yourself/your family in all this? I'm curious about that because I for one, am not sure what to worry about most, and I'm awfully glad I'm married to a financial genius who knows as well as anyone what to do and not do right now. Just having someone who can interpret the financial news is a relief!

What scares you the most?


*Me jaded? Cynical? Peevish? Nah...

10 comments:

maitlandmommy said...

hey chica.

I'm concerned that i've lost 30k since this shit started and there's not a damn thing i can do about it, except be thankful i have time left before i retire to make it up. maybe. fingers crossed.

We've laid off 10% of our company so i'm scared. i worry that we have 2 houses right now, somewhat by default - long story- but when v and i got together he kept his house on the west coast (FL west coast) so that he had somewhere to spend time with his daughter when he had her - and it's cheaper than getting a hotel every 2 weeks or keeping an apartment (mtg less than rent) BUT GOOD GOD - 2 mortgages. christ. yeah i'm scared. I know I kid about being a close friend of Grey Goose - but it's not far from reality.

Amy @ Milk Breath and Margaritas said...

maitland: Hiya! I don't blame you for being freaked out over having two homes!

I worry most at the moment (ask me again in 10 minutes) about my daughter. What a time to be 19 and trying to get through college, huh? The job market for her is going to be super tough. And it's so hard at that age to understand the impact of this and actually let it change your decisions.

My boys are so little, hopefully this will be over by the time they are ready for college.

Ringleader said...

I'm just hunkered down in the tub with a mattress over my head hoping... praying that it turns out OK.

Ballenger said...

* I worry the credit won't be available when my we look to buy a home and that interest rates and inflation won't be favorable.

* I worry that the hubster will come out of military retirement and go back to Iraq (NEVER NEVER NEVER).

* I worry that we will be overcome by medical bills.

* I worry that we won't have anything left in our retirement savings AND that social security will be gone.

* I worry that my folks have lost their retirement.

I guess I'm worrying about a lot of it. I think my biggest fear is that goodness is its own reward. How pathetic is that? My fear is that I haven't spent myself into rescue.

Auds at Barking Mad said...

If you're jaded then I don't know what I am...maybe I've just given up.

I'm concerned because whilst my hubby has a UK retirement pension he can collect and transfer to the states when he hits the appropriate age, things over there are no better than they are here. Will there be any money even left in it?

Also, because he's only been in the states for a little under three years, he contributes double what most do to their 401k's in order to catch up with where he should be,had he been working here his whole life. And ya know what effing sucks, his 401K which WAS pretty healthy, is more like a 101K now.

The thing that scares me is that the damned gov't went into this thing not knowing what the hell they were going to do with that $700B in the first place. It was like this number they just threw out there. And they're going to let Paulson figure out what financial institutions get the money? What the hell?

I don't understand why they're starting from the top. I really don't. What about the people? Oh yeah, that's right, we're no longer governed by the people for the people. That little thing called the Constitution no longer stands for jack sh!t it seems.

Then we have gas prices which were easing up (Yes I have an earth/ozone destroying SUV, so sue me) and now the babies in Saudi Arabia, Iran and Russia are crying because they don't have the revenue they were getting to build palaces and line their pockets with. What the hell? So they're going back up again. I'd be pissed whether I drove a Prius or the Cherokee that I have, along with a Volvo and Subaru. high petrol prices are choking small families right now. There is no denying it.

And lastly, I'm scared because the people we trust to lead this nation have their heads up their asses and are only concerned about themselves. The bailout is probably a good thing for my husband's company because they build huge hospitals and universities and labs...thing that require millions in capital. Without the capital (or is is capitol?) those buildings don't get built and there are no contracts for my husband to negotiate or estimates to draw up.

Much like maitlandmommy, we're hemorrhaging money and we can't stop the bleeding. We've got 25 years until retirement. Is it going to be enough time?

Add to that, we've got one in college and one in diapers, and I'm worried about the value of our home. We want to put it on the market but don't know if it's even worth it at this point.

I don't even know if I can pinpoint what I'm most concerned about right now.

Nap Warden said...

It really amazes me that I have become the optimist in the room:o I think America will come out of this. Not overnight, mind you, but America will make money. It's what we do. As far as the market...it ain't a loss until you have realized it (sold). To me...this is a fire sale. I started buying stocks once the market fell below 8,000. Average in baby!

Nap Warden said...

I know, spoken like a trader;)

Heather, Queen of Shake Shake said...

Surprisingly, I've not been worried much at all. A few twinges here, but only when I start to imagine the future. I think that's where a lot of the fear and worry comes from - wondering what the future will be like and it's such an unanswerable question. HUGE one.

I've actually been quite fascinated with everything going on. Saturday, I was sitting in my conference and was suddenly struck by how life was going on, even with this crisis. It's just goes on and here we all were, still living our life.

wheelsonthebus said...

Just catching up. I think it is safe to say I am incredibly freaked out by it all.

Loralee Choate said...

I am most concerned that people will freak out too much and compound the issue.

I know there are serious issues, and they do concern me, but I also know that things ebb and flow, sometimes to extreme measures and I think that in the end we will work our way out of it.

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