I dread seeing the stock market today

[Ruth Ann Landry]

Auto bailout failed and I have a hunch the stock market will fall so far it'll fall off the charts....hope I'm wrong.

[gwendols]

It's scary working here in Michigan with the whole auto thing. I'm here in Dearborn (have been my whole life) where Ford HQ is located. I spent 10 years of my current job (both old and new position) working onsite at Ford and my DH is a designer of automotive parts. We are both fortunate to still have our jobs, but everything (everywhere) is so day-to-day now.

[Ruth Ann Landry]

I still think, personally, that it's a ploy to make sure the auto industry is doing all it can to help itself first before the bailout...I really cannot imagine our gov't allowing the entire auto industry of the US to fail......

[Ruth Ann Landry]

In the first 10 minutes, it has fallen 150 points already...ouch

[ChristyB]

In the first 10 minutes, it has fallen 150 points already...ouch

I swear DH is going to explode!

[Debbie J]

I liked what the Mayor of one of the auto towns said today on CBS Morning Show--Congress should be the first to take concessions!! Normal Joe's take it in the shorts all the time, now they want the Union to take more concessions. This is not Auto related, but bail out related--how about AIG giving their top 160 Management people "retention" checks because they told Congress they wouldn't give bonuses!! What a crock--some of those people already make 3 million a year and they are getting 1 million $$ in "retention" checks............makes me sick!!

[Ruth Ann Landry]

oh for sure...and locally, the colleges and nys schools are losing funding...

[pamcook]

We're stocking up on food. I don't see any solution to the economy. (The new cabinet is looking so very much like one we had recently - and they were a huge part of the ongoing problem in this country - no "change" if you ask me...)
I know I sound like Eeyore but I truly believe we'll have a severe depression in the next year. I hope I'm wrong but at least we'll have some food in the house. The scariest thing is that we've always had manufacturing jobs in this country to help with a rebound. We don't have them any more. And it makes me sad to hear people complaining that the auto workers were making a living wage (and paying more than their fair share of taxes). You can't compare a UAW employee's job to any of the foreign-owned assembly plant workers. They aren't comparable jobs in any sense. Regardless, what does it say about us when we complain that our neighbor has a good paying job? THAT IS NOT to discount the fact that teachers in this country are still seriously underpaid and under-valued!
I'm too tired to go on and on...and I think I'm getting sick - just in time for the weekend. Yay.

[Ruth Ann Landry]

we have been food shopping a lot smarter in the past 6-8 months...we never had to worry about it before...but now...you should see our excitement when there's a twofer sale of things we use....we have a large pantry and it's pretty well stocked, as well as our freezer...shopped twofers for meat all summer.....we also canned a lot, if you remember my threads about that earlier in the fall.....now the gas and electric bills...OUCH

[lbeier]

Yesterday was a kind of a realization for me that things are really hard these days. On Wednesday evening my son and his father were out playing in the fraction of an inch of snow we have on the ground and Bobby slipped and fell on one of bushes and one of the sticks poked him in the eye - back in the socket area. When I got home from work I checked him out and we considered what to do, but it wasn't bothering him, wasn't hurting. He got up yesterday and went to preschool - around 10AM they called KUrt to say he was rubbing his eye and it was all red. Kurt, of course, called me. Preschool suggested a trip to the doctor - I told Kurt to call first - and they said to take him to the ER becuase they have a special light. For the first time ever I had to think about MONEY before I thought about my child's health! It was one of those fleeting moments where I thought I only have this one paycheck before Christmas and I have to pay the mortgage, the grocieries, the heat and buy Christmas presents - how the heck am I going to pay the hospital $100 co-pay and any medication or anything else he might need. I quickly slapped that thought of my head and told him to go immediatly to the ER. Bobby is going to be fine, he bruised his eye - and now it is totally red, but he will be fine. I hate not having money - and I hate losing money every day in the market -- my 401K is pathetic ands if things don't improve I will have to work until I am 101!

[cnedaria]

So sorry you're going through that, Lori. Believe me, I know how you feel! My 5 year old shoved a lego up his nose this summer and we hadn't met the deductible yet. That was one lego piece!

Hoping your son's eye is better soon!

[lbeier]

Luckily Bobby hasn't shoved anything up his nose, but his finger

[Sharonv]

Our market seems to follow yours.. and all I can see is my superannuation going backward. I think that is the same as what you call the 401. It is prob good for me at the moment (because of the separation etc) but still I hate seeing mine has dropped about $50k in the past six months. I think those of us that are working and intend to work for the next 3 - 5 years will see a recovery in this, but at the moment until you actually cash in your 401/superannuation, then you have not lost.

On the Motor Industry, Australia is being crippled, job layoffs everywhere and lots of doubt as to the ongoing viability of the rest of them. It really is hard times, world wide.

Hang in there girls, try to ride it out and maybe we can come out ahead in a few years.
The positive, remember for those that have shares etc, you have not LOST unless you sell.. try to weather this storm.. Alternatively, you can claim the loss on your taxes if you need to offset it against capital gains etc.. well that is how it works in Australia

On the Christmas present front, I understand. I too am thinking one last pay next Thursday, before Christmas. DD has put out 3 stockings and I have nothing right now to fill it. I have bought a couple of presents for her but nothing like previous years, but ex has bought her lots, so I guess I can say Santa left a lot of your presents at daddy's, although I still feel like I have ripped her off. But we all need to pull in the belts, take stock, and look at what we can afford in the new year. I have cut back on stuff, including CS (due to dislike of recent kits and exchange rate) and after school holidays the cable TV/Foxtel will go.... I have also looked at use of heating/aircon, turning off lights, turning off applicances at the power point that I would not usually worry about, I am sure my power bill will be less this quarter.

Something I saw on TV tonight, by a budget company that helps people that need to sort out finances etc, was If you cannot afford to buy it for christmas then DO NOT buy it. I love my DD, but I am not putting anything on credit this xmas, as I do not want any surprises, ongoing costs next year as it is only going to get tougher in the next 12 months.

[Dani Larcom]

I had a small amount invested for my girls' college about 10 years ago. We are 8 years away from college for the oldest and the money hasn't earned anything. Now we will most likely lose the whole thing.

[Cathy]

Our local newspaper reported last week that the equity we've built up in our homes where we live the last 7 years is gone. With the second we took out on our house for our pool, our car and Christopher's College - I am sure we are upside down. It makes me sick to think about it.
Cathy