http://www.msnbc.msn.com/id/27083134/?GT1=43001

Ok I do understand how the US dollar can loose value and that hurts the US because we have to pay more for imports and such.

But wouldn't a worldwide economic downturn just cancel everything out?

I mean if the dollar, yen, Euro, pound, etc. etc. all drop and aren't worth crap..........won't everything just stay the same?

 

This is not good, my 401k is a joke and I see the Dow is now 9,269.41

 

Scott for my online impression...you are fairly young.

I'm 31 and have lost about 20K this year in my 401K. But I'm not worried at all.

I'm still buying stock at these low prices and, unless the entire wall street system ceases to exsist, I'm sure in 30 years I will more than get my money back.

It's the people that are 65 right now that are hurting... but if they were smart at all they would have taken their money out of Mutual funds and invested in CD's or something anyway.

I guess it's the ones who are expecting to retire in 3-5 years that are hurting. The ones that haven't moved their money to cash funds yet.

 

I'm 65, and I have lost too much to convert to cash now. Just have to hope the world comes to it's senses. I have about 50% of the portfolio in stocks.

 

Hopefully you can make your money back in the next 1-2 years then convert it...

 

How? Because you've got rich, selfish ****** pulling the strings. - Og

 

Ummm we all know that......I don't thing you get what I'm getting at.

 

Sorry, dude. Still trying to figure out how AIG is bailed out and then they take $440,000 dollars of the bailout (taxpayer) money and go to a friggin' spa in California and get manicures. Excuse my anger. - Og

 

I hear ya man......It's BS.......I figured you were just venting.....we all need that sometimes.

 

It's because all nations are so heavily invested in each other with the US leading the way as the one leading in most of the worlds portfolio. Other contries are heavily invested in our corporations and banks as well as the dollar. We start down, then they start down as well. The domino effect. This was what I was trying to everyone that did not want a bailout of any kind to see. The bailout is nasty and the events that made it necessary are down right immoral if not criminal, but that does not mean we should just say, the heck with it and ride the ship down.

 

I recently turned 27 so I'm not too far behind ya. While I have plenty of years to ride it out it is still not an easy thing to watch.

To add to the pain I am in sales and sales are very very slow right now.
It has been slowed for the better part of a year and as a result all of my accounts are suffering.

I just hope we are able to turn it around before its too late.

 

I was never for that bailout. It was the biggest piece of crap ever signed by a president. Full of pork. It's not going to do the markets any good. Looking at $700 billion on the world stage, I can't see it helping. I say, like I've said before, let them fail. Look at how the greedy oil guys are lowering prices now. They could have been low all the time. They are a bunch of gamblers who lost the big poker game and we bail them out to continue gambling (or they take a spa break) while all of our 401K's tank. These guys are criminals in my book. Screw 'em. - Og

 

There is something to be said for corporate morality and this country is incredibly lacking in it.
It all comes down to the human element.
They are in fact criminals and the poker analogy was fantastic.

 

Let the record show that OgRed and I agree on something well except the oil part... 2 out of three ain't bad.....:santa:

 

Get the name right, dummy. I should kick you in the nuts. - Og