I'm a member of an Outdoors Club. Hiking, rock climbing, kayaking, stuff like that. At our hike last week there were 30 or so showed up--six are out of work, and have been for months. Another 4 (5 maybe? they might be running together in my mind) know that the hammer is about to fall, and don't have any idea what they'll be doing. No savings to speak of, 401k is gone in the market plunge. It's also a singles group, so it's not as if they have spouses who are working.

It's strange. Four years ago I didn't know anyone in my circle who was unemployed, or even worried about their jobs. Now it's everywhere.

RR

You are in a business that is heading for near extinction. If you haven't, if I was you, I would would have a contingency plan. I'll give you a hint. That plan should not be based on dollar assets.

I'm 35% ultrashort, 18% China. I trade equities and options, and can be out with the press of a button.

It's the other guys in my industry who will be extinct. Buy and hold is dead, and the public is just starting to catch on. Even the firms themselves wouldn't be there were it not for Bushbama kiting a few trillion dollars worth of checks from the Chinese. And their patience is wearing thin.

It's the other guys in my industry who will be extinct.
#3 | Posted by rightisright

Heh, you all will be extinct and you will be scrambling to survive. Meanwhile, my skills will be more valuable as time goes by.

I'm 35% ultrashort, 18% China. I trade equities and options, and can be out with the press of a button.

Here's a possible scenario. On Friday night after all the markets are closed, Obama announces a new currency, the Amero. On Monday when the markets open in Asia, one Amero will trade two dollars. Don't think Obama and his merry band of crooks won't be one step ahead of moneychangers with buttons.

The greatest gold and silver rush the world has ever seen lies shortly ahead. Buttons or no buttons, anybody with dollar assets is a sitting duck.

BTW October 29, 2009 is the 80th anniversary of the crash of 1929. I can't say it has any timing significance, but I suspect that there will be a lot queasy stomachs on Wall Street around that time.

RIR,

It's strange. Four years ago I didn't know anyone in my circle who was unemployed, or even worried about their jobs. Now it's everywhere.

It is interesting, I wonder if I should give you a careless the economy is doing great attitude like you did to me 4 years ago. Nope, it's nice seeing you are noticing and posting the stuff now.

I know of one in my circle and microsoft wants this person but this person worked for microsoft for 15 years and would have to pick up and move losing all their investment on the house. Some tough choices out there for people to make.

By the way, how do you like the singles group? Is it worth joining one?

Heh, you all will be extinct and you will be scrambling to survive. Meanwhile, my skills will be more valuable as time goes by.

#4 | Posted by dxlingr
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Maybe. But I've scrambled to survive before. Makes one feel alive, in a way. Fortunately I'm debt free, and live very modestly.

By the way, how do you like the singles group? Is it worth joining one?

#7 | Posted by moneywar
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Yeah money, I love it. I'm a part of two tennis groups, a single parents' group, a couple of business groups, and three outdoors and conservation groups. One in particular is more busy than the others.

I found these on www.meetup.com--you put in your zip code, and it lists all the groups, then you can just join whichever ones you think you might like. Doesn't cost anything to join. You can fill up your sked pretty fast--a lot of good people, and I'm really glad to have joined. I just moved here two months ago, and have already met a lot of great people. Check it out.