Recession or Depression?
I don't know about the rest of you, but my investment portfolio is down 20 percent since September 1. Twenty percent.
In 40 days.
Add that to the stress that my job security is on liquifaction instead of concrete.
I ask you, is this a recession or a depression? It feels like depression to me. Or at the very least, anxiety.
I'm in my mid-40s. I'm a college graduate. I work in a skilled job. I don't cheat on my taxes. I've never been arrested. I'm registered to vote. I fulfill my jury service. I am, in short, a model citizen.
It's not supposed to be this way. What happened to the American Dream?
I'm asking you directly, Mr. Bush.
posted by LA @ 1:53 PM
7 Comments:
I should be getting my 3rd quarter IRA statement soon, and I'm scared to look at it. I'm beginning to think that I will probably never retire. With my mortgage still 25 years away from being paid off, with two kids not yet old enough for college, and with credit card debt slowly mounting; I'll probably need to work until I die.
I haven't heard our economic situation called a depression, and it seems to me that what the nation went through in the '30's was worse that what's happening now - so I think recession.
Don't stress out thinking about the 20% you're down. Unless you're cashing it in today, you haven't lost anything. It'll come back up eventually...assuming we don't end up with another 4 years of Republican hell.
Edit - I realize that, of course, it's just so startling to see such big number shifts in the red! My job situation is still tenuous, though.
Dan - That's how I feel, like I will work until I die. I think a lot of people in our age group are feeling that way. I don't have to worry about sending kids to college, but the runaway inflation in terms of cost of living terrifies me.
The Republican Party does not give a shit about average joes like you and me. They care only about making millions for their fat cat cronies, and trying to rule the world at our expense.
Fuck 'em.
I will say this, it's certainly deep breath time, for sure.
We all gotta have each others backs, though.
Peace.
Argh. I thought I was the only one that was suffering from post-tramatic stress disorder from the last 8 years.
Mines exactly 20% too.
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