Is anyone watching the Dow?

[sly_wolf 199]

how does this affect the average joe that doesn't have 100,000 dollars in the stock market, or a 5 million dollar savings account?? is it gonna increase food prices? are the mortages for people who own houses gonna skyrocket and be ridiculously high? are all gonna get fired from our jobs?

The average Joe that has money in some sort of retirement plan will be affected and it wont just end there. Most averge Joe' also need to borrow money.

Sly

[pedroh 21]

how does this affect the average joe that doesn't have 100,000 dollars in the stock market, or a 5 million dollar savings account?? is it gonna increase food prices? are the mortages for people who own houses gonna skyrocket and be ridiculously high? are all gonna get fired from our jobs?

The average Joe that has money in some sort of retirement plan will be affected and it wont just end there. Most averge Joe' also need to borrow money.

Sly

so there will be cheap ### houses everywhere but no one will want to give u a loan to buy it..

[Trumplestiltskin 5,791]

Yep - it could become very hard to get credit (to some extent this is already happening) and interest rates could go through the roof.

[one...two...tree 2,762]

A real fix would be to allow homeowners who've defaulted on their loans to keep their homes. That's plugging the hole in this sinking ship. The Fed could buy up the mortgages and renegotiate the terms to 40 or 50 year loans with a fixed interest rate. We should have done this back when some in Congress were proposing it. Now the whole banking industry is in dire straits. This was totally foreseeable and avoidable. F##king stupidity.

[pedroh 21]

and what about any other microeconomic effects? like, is this gonna affect me if in my daily purchases for food, or something not related to credit cards or loans?

[TayRivers 4]

As more and more banks and finance houses fail it will become harder and harder for people to get their money out of bank accounts, and yes people will loose their jobs.

[sara..... 371]

all i know is in the last four months my value in stocks has come down 83 thousand in worth i thought before these last few weeks the market would recover after the elections but i dont think so not this time........sucks big time

[one...two...tree 2,762]

and what about any other microeconomic effects? like, is this gonna affect me if in my daily purchases for food, or something not related to credit cards or loans?

The Fed is going to have to step in and it will. But the longer Congress hems and haws over the details, the more anxiety this is putting on everyone which isn't helping things. They'll pass a bill soon...hopefully.

[AlHayatZween 2]

feeling a bit uneasy

i feel uneasy about the whole thing, too... i guess we have to wait and see...

it sucks because i wanted to go back to grad school full-time next year... but who knows now...

and yes, i'm worried about the cost of regular foodstuffs, etc... going up...

[sara..... 371]

i wish i had paid more attention when they were predicting this fall.......................

[pedroh 21]

yea, isnt people taking their money out of the banks making it worse? i mean, is not that a lot of people have more than 100k dollars in savings to not be protected by the FDIC insurance...

[sly_wolf 199]

and what about any other microeconomic effects? like, is this gonna affect me if in my daily purchases for food, or something not related to credit cards or loans?

Unless we get some good news, yes it will come to that. The average Joe always looses the most.

Sly

[sara..... 371]

when gas went so high five dozen eggs went from 8.99 up to 13.99 milk rose about fifty cents with this going on if u dont have a garden and meat of ur own i think everyone is gonna be in big trouble with the price of food..........

[Trumplestiltskin 5,791]

and what about any other microeconomic effects? like, is this gonna affect me if in my daily purchases for food, or something not related to credit cards or loans?

Well sure - if inflation goes up... A lot of things could cost more.

when gas went so high five dozen eggs went from 8.99 up to 13.99 milk rose about fifty cents with this going on if u dont have a garden and meat of ur own i think everyone is gonna be in big trouble with the price of food..........

This would have been bad even without the high gas prices... All adds up to a significantly higher cost of living, with less jobs and poorer salaries to go around. Could be disastrous for many people.

[alienlovechild 75]

What about the all the talk about the "politics of fear"?