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The Watercooler
Are you afraid of the economy on the skids? Are you affected?
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<blockquote data-quote="Marcie Mac" data-source="post: 197632" data-attributes="member: 47"><p>Definately feeling it over here on the home front and work as well. Like SRL, I spend a lot of time reading and listening to the news on the state of the economy - I need to stop being informed as my anxiety level is going thru the roof. </p><p> </p><p>My only investments is in my 401K - that was to pay the house off when I retire. At the beginning of the year, I had enough in there to pay off both loans and then a little left over. That is definately not the case now. Am trying not to look and see that its not so slowly being eroded <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite3" alt=":(" title="Frown :(" loading="lazy" data-shortname=":(" /> but can't not see the stock market figures on MSN. </p><p> </p><p>At work, I am hanging on by my nails. Working at home now has saved the company money- its just my paycheck and phone bill they are paying for, but am wondering now how long before I see a paycheck cut that I can ill afford. I specialize in insurance for things no one else wants to write, catastrople insurance homes in the brush area, and the like, but run of the mill companies who never even would consider this stuff, now are taking it at whatever price they need to just to get a cash flow going. Sigh.. And AIG, one of my biggest competitors, part of me would love to see them tank - the other part hoping they won't because the ramifications would be an absolute disaster for the economy. </p><p> </p><p>I don't know when it was exactly when common sense went out the window with corporations and greed became the rule of the day. Am not even close to being a financial wizard, but it seems to me if people are losing their homes because of adjustable rates, just go back and re write the loan to a flat interest rate they CAN afford. Yeah, banks will lose money, but surely some payment on a loan is better than no payment on a loan, and you won't be stuck with a house that no one can afford to buy. But I guess that would be too sensible.</p><p> </p><p>All I know is that I went to having a comfortable living to a very uncomfortable one of constant worries of "what if".. </p><p> </p><p>Marcie</p></blockquote><p></p>
[QUOTE="Marcie Mac, post: 197632, member: 47"] Definately feeling it over here on the home front and work as well. Like SRL, I spend a lot of time reading and listening to the news on the state of the economy - I need to stop being informed as my anxiety level is going thru the roof. My only investments is in my 401K - that was to pay the house off when I retire. At the beginning of the year, I had enough in there to pay off both loans and then a little left over. That is definately not the case now. Am trying not to look and see that its not so slowly being eroded :( but can't not see the stock market figures on MSN. At work, I am hanging on by my nails. Working at home now has saved the company money- its just my paycheck and phone bill they are paying for, but am wondering now how long before I see a paycheck cut that I can ill afford. I specialize in insurance for things no one else wants to write, catastrople insurance homes in the brush area, and the like, but run of the mill companies who never even would consider this stuff, now are taking it at whatever price they need to just to get a cash flow going. Sigh.. And AIG, one of my biggest competitors, part of me would love to see them tank - the other part hoping they won't because the ramifications would be an absolute disaster for the economy. I don't know when it was exactly when common sense went out the window with corporations and greed became the rule of the day. Am not even close to being a financial wizard, but it seems to me if people are losing their homes because of adjustable rates, just go back and re write the loan to a flat interest rate they CAN afford. Yeah, banks will lose money, but surely some payment on a loan is better than no payment on a loan, and you won't be stuck with a house that no one can afford to buy. But I guess that would be too sensible. All I know is that I went to having a comfortable living to a very uncomfortable one of constant worries of "what if".. Marcie [/QUOTE]
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Are you afraid of the economy on the skids? Are you affected?
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