Down down 479+ points 4.20%


Down 500+ point 4.4%

My 401k down 14% on the year

Interesting to see what happens in the next few weeks

I don't speak stock. What's that mean?

skatchkins wrote:I don't speak stock. What's that mean?

Basically, the stock market is continuing to go through a correction period. Mostly due to the bad loans that have gone out for mortgages. Several large banks have collapsed and other industry giants are in foreclosure.

The continuing decline in the stock market will have effect on lots of things ranging from credit card interest rates to the price of goods you buy in the store.

Were not anywhere close to the worst single day crash in history.

Sep 11 2001 7.1%
Oct 19th 1987 down 22.6%
Dec 12th 1914 down 24.3%

Unsecured loans and lines will be much harder to get. The rates will go up and the amounts they will loan will be small.

Its going to get much worse before you see it get better. The best thing you can do (if you can afford it) is to buy one of the many bank owned homes. In the next year or so you will be able to find some good deals in the 140-210K range. If you can hold onto it for 3 years you will make some great money.