tag:blogger.com,1999:blog-32914592.post512178251926466217..comments2024-02-21T14:18:09.212-08:00Comments on R World: Market Plunge & Baby Boomers BustRon Davisonhttp://www.blogger.com/profile/11972794876337195698noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-32914592.post-87434638644044135502008-10-10T22:05:00.000-07:002008-10-10T22:05:00.000-07:00Ron, I cannot imagine you ever wanting to retire s...Ron, I cannot imagine you ever wanting to retire so it is interesting you focus on this issue. It is obviously no secret that people were going to have to work longer than the classic retirement age no matter what has happened with the stock market. As for older folks "taking" jobs from younger folks this is a fallacy based on zero sum economic thinking. Having productive workers, young or old, is a good thing.Anonymoushttps://www.blogger.com/profile/09696925485730652458noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-65765164970501753902008-10-10T21:07:00.000-07:002008-10-10T21:07:00.000-07:00Addendum: Yesterday I actually went back into the ...Addendum: Yesterday I actually went back into the market and bought a few shares in some companies that I've wanted to own, and which now look priced right.<BR/><BR/>It will be interesting to see if we've found support at 8000 or whether we will continue to drop to 7000. And if so, whether we will continue to bounce along in that trough for a while (year) or have a quicker recovery.suzanneelizabeths.comhttps://www.blogger.com/profile/14304462740451230118noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-77536678620700295772008-10-01T08:37:00.000-07:002008-10-01T08:37:00.000-07:00Ron-O, He hasn't won me over as much as the other ...Ron-O, <BR/>He hasn't won me over as much as the other guy has disappointed me. He could have looked Barry in the eye and said many things he failed to say as I don't believe he was prepared. Not a good sign. I don't think he thinks he can win and it's becoming apparent.Davidhttps://www.blogger.com/profile/11322233540154130798noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-7631700359154320772008-09-30T21:19:00.000-07:002008-09-30T21:19:00.000-07:00Suzanne,I've seen estimates of about a half the va...Suzanne,<BR/>I've seen estimates of about a half the value of equities and bonds being written off. This is like the pension fund equivalent of "return to go."<BR/><BR/>Eric,<BR/>It's true. Things get their own dynamic - which is one reason why it is important to intervene now. <BR/><BR/>Milena,<BR/>it is outrageous to see so many years of savings disappear. I would so much rather have spent it on a cars, trips, and electronics.<BR/><BR/>David,<BR/>Good move. Now is the time to buy banks and mortgages - I hear that they are selling at a discount. President Obama? Does this mean that he's won you over?<BR/><BR/>Emily,<BR/>yes, consumption does seem more certain to work than savings right now. Ridiculous.Ron Davisonhttps://www.blogger.com/profile/11972794876337195698noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-11858912076263487552008-09-30T19:43:00.000-07:002008-09-30T19:43:00.000-07:00It is terrifying. Even at my age, years from reti...It is terrifying. Even at my age, years from retirement. You cannot wonder why some people don't bother saving, since it is absolutely no guarantee of being taken care of.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32914592.post-600472751215062602008-09-30T15:13:00.000-07:002008-09-30T15:13:00.000-07:00I feel your pain Ron-O. Not being entirely anti-Ke...I feel your pain Ron-O. Not being entirely anti-Keynesian, circa late 2006, Bush, McCain and others (Obama claims now to have been one of them) warned of the impending mortgage mess and called for some regulation or oversight and NO ONE acted. <BR/><BR/>Being a coward, I sold my home in NV, pulled my money out of my IRAs and 401Ks and took out insurance annuities (questionable call), bought many FDIC insured CDs and gold too. I was almost embarrassed to tell anyone I was giving up so much appreciation. I could do it because I didn't need the money or the interest or dividends as disposable income. Thanks in part to you for causing me to learn more about economics, I heeded the warnings and acted however imperfectly. <BR/><BR/>I don't have a ton of money but it didn't go down 30% recently. It could still all go t-up and we do need the controls but we did then too and look who didn't support that. Perhaps Bush would have caved in to the neocons but lots of republicans and democrats were lobbied in another direction. I know their names. <BR/><BR/>Complex world. Doesn't cut it to blame one person or one party anymore. As we saw yesterday, and will see beginning with President Obama hopefully, there's no guarantee one man or one party will do the right thing. We can hope though.Davidhttps://www.blogger.com/profile/11322233540154130798noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-68048468293513469612008-09-30T05:50:00.000-07:002008-09-30T05:50:00.000-07:00Yesterday we looked at our retirement savings plan...Yesterday we looked at our retirement savings plan. There had been a substantial drop in its worth. It is difficult to see money that has been earned through years of hard work just disappear. I wished fervently that we could have made the last 8 years with Bush disappear just as easily.Gypsy at Hearthttps://www.blogger.com/profile/17106152285952023602noreply@blogger.comtag:blogger.com,1999:blog-32914592.post-88984212925865426572008-09-29T21:31:00.000-07:002008-09-29T21:31:00.000-07:00The other issue that comes up with people working ...The other issue that comes up with people working longer, is that they take jobs that were previously opening up to college grads. And since the economy would be bad enough for them to continue working, this means companies will not be able to take on more employees, it's a vicious circle.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32914592.post-51985928136766027762008-09-29T20:35:00.000-07:002008-09-29T20:35:00.000-07:00Ron, you are absolutely right, and as I watched al...Ron, you are absolutely right, and as I watched all the blowhard politicians who are more interested in pointing fingers than finding a solution, I say, "it's time to throw the bums out". <BR/><BR/>I never imagined that I would watch a market collapse. Today, I began to get fearful of where this would end.suzanneelizabeths.comhttps://www.blogger.com/profile/14304462740451230118noreply@blogger.com