Degree of concern now vs 2000-2002

[shotgunner]

I am more concerned now because I am in semi-retirement.

I am concerned by the level of Government involvement i.e. bailouts, stimulus etc. I do not recall the government taking such drastic and huge actions in the 2001-2002 recession. This is more reminiscent of the '73-74 period when the government tried things like price controls.

I am concerned with the 5 to 7 percent daily swings the market is making on seemingly regular basis. I don't think there is any precedent for this post Great Depression. If the market it indeed foward looking it is a vision of the future clouded by schizofrenia. I don't think the market can find a bottom unitl the bailout is finished funds exhausted etc. Too many institutions have no real or visible bottom line with the bailout in place.

 

[Moemg]

I'm enough older now that I have seen some real trouble. This time I am getting my $ss handed to me, but it doesn't bother me too much because at least I don't have some horrible disease.


ha

Good way to put in perspective ! Every time I get a little crazy about the economy I think of some of the stories from this board about awful diseases and I consider myself lucky .

 

[Ronstar]

A real health scare sure can put the economic situation in perspective

 

[jIMOh]

it's a recency thing. I am always more concerned about the future than looking at the past. 2000-2002 is over and what is happening now if far from over- we have not begun the recovery yet.

 

[Alan]

More concerned now. Today I am 16 months from RE. Back then I was 60/40 and my worst year in the bear was -12%. Today I am 40/50/10 and this 1st year of the bear I am -20%.

 

[toofrugalformycat]

More concerned now, but not for me personally.
I ERed in April 2000, just in time for the market to slide down, find out our roof had hidden very expensive problems, and find out I might need major surgery and have cancer.
We were financially prepared to deal with the roof although I would have rather have spent the money on a nice long overseas trip, my health turned out ok (knock on wood), and in comparison to those two the market didn't seem so important. Plus at that time it seemed like there were pretty clear short-term reasons for the market crash.
I'm more concerned now because it seems to me like the problem is world-wide and still getting worse, and we (the U.S.) have fewer resources to fall back on.
What I'm really worried about are my nieces and nephews. One recent college graduate just got laid off his first job out of college, about 6 months after starting work, and they're closing the entire big operation in his city. And he has a degree in a normally well paying secure field.
I graduated college into a recession back when dinosaurs roamed the earth, and had a hard time for a couple of years, and I hate to see the kids go through the same thing only worse.
My backup plan to move back into our remote cabin doesn't seem practical now that I'm older and creakier. I like my conveniences and company and the comfort of civilization.
Whine whine whine. Remember that where there's life, there's hope. Maybe our culture will improve from its present gimme gimmeness.

 

[redduck]

I am much, much more concerned now.--for the country and for myself. I could understand the dot-com bubble. Companies like Fat Brain and maybe Razorfish didn't really need to survive (or, even exist). But, maybe GM and Ford do. Does AIG? I don't know, but I do know that the gov't. is throwing huge money into some companies that nobody else wants to throw money into. Anyhow, I don't recall people bringing up the Great Depression as they do now. It's even on my mind (sorry for bringing it up). And, I know people who have lost their jobs and others who plan on working a few more years longer than they planned to (I think I could be one of these people). It's bigger and scarier this time around. I'm glad that Countrywide is gone, but am sorry that Washington Mutual disinigrated. And, I'm concerned about the huge amount of debt that this country is running up. It seems like debt got us into this mess and I don't see how more debt is going to get us out. I don't think it works that way.

 

[lazygood4nothinbum]

we have not begun the recovery yet.

that might very well be the understatement of the century-event: the great contraction. i suspect that if i better understood finance, i'd probably be a conspiracy theorist, wondering if housing isn't less to blame and more just a scapegoat. begun to recover? my fear is that we ain't seen nothin' yet.

 

[Donzo]

I am more concerned now because I had good income and was glad to see the market go down in the early 00s so my monthly buys would buy more - it all worked out well. With out the dot.com bust many of us would not be in the great position we are in (were in?).
I went through a period of time a while back when I was VERY concerned. I have calmed down and looked at my situation - I have 4-5 years cash/CDs and 3-5 years in Wellesley (depending on how it fares) the rest in indexes, 2 small pensions that kick in in 3 years that should cover about 30% of our expenses or at least pay for our health insurance.
I am giving my family and I a pass - we are not going to worry, just enjoy our current life and situation. If things really do fall apart like Barbabas predicts we will update our position and act accordingly.
I have a gut feeling that we will get through this faster than many are thinking. But, I must admit I am often wrong - with the economy-- and the market

 

[unclemick]

The bottom is IN! Just got off the phone - A friend just got - 4 Kansas City/Saint's tickets at -50% off face value on E Bay.

Kansas City is always sold out - but this is a new scalpers low discount I think.

The bottom is in - nowhere to go but up from here.

Buy buy buy!

heh heh heh - I passed so he's taking his two son's and wife who will confuse everyone with her Green Bay Packers shirt while everyone else has Saint's colors.

- 50% is the bottom you heard it here.