Survey: Is The Capital Meltdown Affecting You?

[Grouper Duper]

We have seen the effects, but only indirectly through the business we own. We are in the aviation business (sell fuel, maintenance, flight training), and things have slowed considerably.

Personally, we're like some of the others here; both our cars are paid off, never any credit card debt, we only buy toys when we can afford to pay cash. That has kept us somewhat isolated (so far) from the crisis.

One change we've made that was only partially economics-driven, was to buy two kayaks. We LOVE them, and I've had some fantastic fishing from mine at minimal cost. I've replaced some of my very-expensive offshore runs in the Grady with "free" yak trips after work for some great inshore fish. We still use the boat quite a bit, however, and will continue to do so.

 

[Anonymous]

Yes.

 

[bhemi]

I'm a stockbroker in Canada. It's been tough here too but not as bad as the US. I just came back from a four day trip to Scottsdale and everyone there is pretty negative. Lots of "for sale" signs and lots of empty stores in the strip malls. In some of the developments, I don't think some of the retail spaces have ever had a tenant.

I just turned 47 and I have been a broker since 1986. I survived the crash of '87, the Asian meltdown in '96, the tech blow up in '00 and 9/11. In Canada we are a commodities driven economy and I have seen gold at $235 and oil at $12. When I was in college in the early 80's, where I lived we had 25% unemployment for people under 25.

Don't live in the moment. Concentrate on important things like your family and try and have a little perspective.

 

[haskindm]

Read your history. The market goes in cycles. We have all heard about "The Depression", but there have been ups and downs in the market and always will be. The market is for long term investments. Short term, your money should be in a bank. 100% of the 10-year periods, the market has made money and something like 97% of 5-year periods. This is no different. The market will recover, with or without the bail-out. The bail-out in whatever form it takes will only determine how quickly we recover and how long we have to pay for it. Do we want a quick, but very painful recovery, or do we want less pain but a recovery that we pay for over many, many year? Unfortunately we are looking for salvation from the same idiots that got us into this mess. If there is a way to screw things up, they will find it. There is plenty of blame to go around for both sides of the aisle and all branches of government. I am 54 and I am not particularly worried. I have lived frugally and will be entirely debt free (including two houses) in 18 months. I am not wealthy, just have worked every day since I was 15 years old and been married to the same woman for 31 years. It is amazing how much easier it is to build wealth when you are "stable". Slow and steady will always win the race.

 

[magicalbill]

The above post by Haskindm should be required reading for all...It could not have been said better.
That said, I'll bet Grady will feel some fallout from this crap, at least for the short-term in new boat sales.

 

[wilson]

mid 40's, made a assload money after 911 in the real estate market near the beach..don't know where it all went but i did pay off alot of stuff, so i guess that was smart. changed jobs after my other employer stole 70% of my pension after 18 yrs. got a great job in a oil refinery making a great salary......i'm real lucky right now. not rich but lucky. a old friend of mine has cancer that is spreading...i don't think it really matters to him what the dow closed at. life is for living, remember it's human nature to huddle together when times get like this. when "the take is on" is when we get competitive and seperate. we'll get through.