Positive action in response to economic pain

[Crankin]

I so agree with all that's been said. I think that these doom and gloom stories should stop being read on the news! Half the panic comes after another thing is broadcast.
Now, I just took my retirement money from the state pension fund from when I was teaching and set up a 401K . But, I won't be touching it for ten years, so I'm just forgetting about it. It's a cycle and I just try to remember that when we bought our first house, the interest rate was 15%.
I am sort of glad I'm in school now, because I feel that in 3 years, things will be quite different. Not that my job would have been in trouble, but the atmosphere gets so touchy when money is tight in a school system.
I also don't plan to be selling my house for another 8-10 years. Since I live in a town that is sort of stable in terms of real estate, and I don't look at my house as a source of money, I am fine.

[OakLeaf]

In line with the thread title, the UN's "Green New Deal" was announced yesterday. The basis - supported by world business leaders - is that the current financial crisis is inextricably linked with the current food and environmental crises, and that a coherent approach will address all three.

[BleeckerSt_Girl]

Many people have lost the value of what they had and can't just buy up stocks 'on sale' now. They simply don't have the additional money- it was all already in stock investments and has now plummeted.
And others cannot tie up what liquid savings they have in long term cds and long term investments, etc. They have mortgages to pay and their jobs are hanging on by a thread, their small business orders are dropping off drastically. I have a lot of friends in this situation.
To most people, this is a serious problem, not a minor inconvenience that can be ignored.

[Mr. Bloom]

Many people have lost the value of what they had and can't just buy up stocks 'on sale' now. They simply don't have the additional money- it was all already in stock investments and has now plummeted.

Lisa, you're absolutely right. To that person, I'd advise that they sit tight. Ultimately, if they are reliant on their investments for income, a heavy investment in stocks was ill advised to start with, but selling low won't make it right.

News Flash: the "talking head" commentators on MSNBC were nearly 80% bullish on stocks today - the day that the market was expected to open "limit down" but didn't. Not for long term, but for an adequate bounce that may enable some to get out in the next few weeks/months.

[redrhodie]

I heard an interview with Van Jones, author of "The Green Collar Economy" on NPR yesterday, and for the first time in a while, I felt hopeful about the future. I heard his ideas of a path to a cleaner world with jobs that actually produce something useful, and although I don't know enough about energy to know if it's really feasible in the time we need it to be, his argument for taking this path was convincing. For sure, we won't get there easily, or maybe at all, but I am glad to know there's a possibility of something better coming.

So yes, I will join you in positive thoughts for our future!

[xeney]

I'm with Lisa here. We are fine, we are young, we have a reasonable mortgage and we can keep putting money away. But my parents are retired and live off of their investments, some small pensions, and payments on the farm they sold -- which the buyer may be about to default on due to the downturn in the housing market. Still, they are well off and will probably be okay. My husband's parents probably can't retire any time soon now, though. My husband's grandparents ... oy. We're worried.

And even though we are fine, nobody is hiring right now; my husband has been out of work for five months and there is no job in sight. Our COBRA runs out in five months and then I don't know what we are going to do for health care. And we are well off. We are fine. There are a whole lot of people who are NOT fine, who are not going to be fine, and I think it would be pretty irresponsible of the media to ignore that situation.

[tulip]

Our COBRA runs out in five months and then I don't know what we are going to do for health care.

As a side note, when I left my corporate job over two years ago in order to live a more balanced life, I got individual health insurance at a quite reasonable cost through ehealthinsurance.com. No relation to the company, just putting that out there. I could not afford the COBRA (nearly $1000 a month), but I have good coverage with a major health insurance company for $180 per month premium. You might want to check it out and see if there are options for you.

[tulip]

To get back to LBTC's post, she said that yes, things are bad, but there's still so much to appreciate--birds singing, our health (for those of us who are in good health), and all the good that still is in our lives. It's NOT all negative. While I understand the negative, I don't let it rule my life even though my financial situation and that of the people with whom I share my life is not all hunky-dorey.

[Geonz]

This is a time to be looking for ways to help other people instead of being afraid they will take from us... "we have nothing to fear but fear itself" means more than that we shouldn't be afraid.