Information

[bumblebby]

 So sorry to everyone going through this. Many people in Canada are impacted as well. I am not exactly sure how/where my FIL invests his money but he has lost a lot of his retirement fund in this last few months. He was going to retire in three years. I doubt he will recoup his losses by then.

 In early 2002 I was in Argentina when the economy collapsed.  When I arrived there, $1 peso was equal to $1 US. When I left 6 weeks later, 0.45 peso = $1 US. Banks were only open on certain days for a few hours and people could only withdraw small amounts of cash. It was very scary for the people that lived there. The reasons for their financial collapse are different then what is going on in the US however the two situations have that same feeling.

 

[Queen Mum]

 It's frightening as can be.   WE plan to take invested money to pay for the new house........

[JeanG]

 DH watches CNBC all day every day.  After hearing about Lehman over the weekend, we sat and watched it all fall yesterday.  Today (at 10:30 EDT), it's still falling.  Idiots like Larry Kudlow say "Oh, just sit tight." Easy for him - he's rich.  Those of us who have low to average incomes are in deep do-do if we're in the market now. It's affecting the 401K's like a punch in the gut.

[scrapaholic]

 scary.