DOW drops 5000

[FIREd]

I don't think that is true. I bought EWJ early in this decade when the Nikkei had broken 8000 on the downside.

Ha

You might be right, I thought that the NIKKEI chart I had found on the internet plotted the index until 2008 but it actually stopped in 1998.

Nikkei bear

Still, no matter how you slice it, today the NIKKEI has returned to its 1983 level. For comparison sake, the DOW was in the 1200-1300 range in 1983...

 

[harley]

Can the cats be talked into bringing in food to share?

One of our dogs is 17 years old, and on his way out. Most recently he's been having stomach problems, the kind that make you wish your carpet wasn't cream colored.

So we've been feeding him baked chicken and rice to try to help his digestive system. We made him a new batch last night. Later we realized we didn't have anything for ourselves, but we didn't want to go out. So we steamed some vegetables and had some 'dog food' with it. Quite tasty, but it did make me think about the old stories about lack of investing/saving resulting in eating dog/cat food. Not as bad as they make it sound.

 

[Zoocat]

I recommend the comedy channel.The Colbert Report is good for a few laughs.
http://www.comedycentral.com/

and this jon stewart episode will make you laugh out loud
http://www.thedailyshow.com/video/index.jhtml?videoId=187584&title=word-war-ii

 

[Retire Soon]

I'm sure this is it, and by a fair margin, with 2002 probably being second.

But to make it realistic it has to be in percentage terms. I think this is already something like the #5 or #6 worst year the Dow has ever had in terms of a percentage drop.

At least we probably won't catch 1931 for the top spot.

Yeah, let's try not to break that record.

 

[laurence]

I have my small group of coworkers who take my guidance on investing all checking in with me, scared because some of them are planning on retiring in the next 2-5 years. Keeping them calm so far, nobody is selling. Thank God I was never tempted to give them "stock picks" but stuck to teaching '4 pillars'. Showing them how much less their portfolio is down when compared to the S&P is small comfort. "You lost 40k, but if you had been all stocks you would have been 80k down!"

 

[TromboneAl]

Some interesting history:

A final thing that made the Great Depression such a catastrophe was that some of the worst shocks occurred right before the 1932 presidential election. There then followed an extended interregnum between the election and inauguration of the new president when no one was in charge.

The outgoing president, Hoover, asked his successor designate, Franklin Roosevelt, to cooperate with him on joint statements and policies, but FDR refused to do so. Meanwhile, the banking crisis deepened. Corporations failed.

The economy was allowed to spiral downward. It was this disaster that led us to amend the constitution to shorten the time between presidential election and inauguration from 4 to 2½ months.

 

[retire@40]

I can't wait to start seeing some more stock picking like the good ol' days.

Remember when we were here picking stocks and being geniuses?

 

[eridanus]

Always look on the bright side of your life ...

I won't have to worry about capital gains tax for many, many, years

 

[Dawg52]

I won't have to worry about capital gains tax for many, many, years

Yeah, Obama can raise cap gains tax to 50% and it won't affect me.

 

[cute fuzzy bunny]

when no one was in charge.

So...just like now?

 

[d]

au contraire, mon ami ... you've obviously forgotten pelosi and reid

 

[FIREd]

They did. And if you can find a career that will let you work 45 years in the same company, retire with a nice little pension, qualify for Medicare (if it is still solvent), then die in 5 or 10 years, go for it.

I've said it before and I'll say it again. This sucks, but it too will pass. I remember how depressing it was going through some of the other sucky times in my lifetime. And I freely admit this one is worse seemeing so far. But I am betting (everything I've got) that things will turn around, and eventually you'll regain all your losses, and even surpass your previous levels. Depending of course on your time frame.

I'm not giving you a hard time by any stretch of the imagination. And truly, if you can find something better than the markets to invest in, I'm willing to listen. But unless you are planning to retire in the next year or two, I'd advise quitting listening/watching the news so much. Find a (cheap) hobby and get lost in it. Volunteer your time to help others less fortunate than you. Do something besides dwelling on the news if it makes you feel so bad. Good luck to you.

Thanks for the kick in the pants Harley, I needed it. Back in the saddle today... I spent the day gardening and playing with the cats, I stayed away from the financial and political news, and I already feel better and more positive about the future.

Thanks JohnDoe and Oldbabe, booze and comedy are definitely helping to take the angst out of me.