Generational Dynamics: Forecasting America's Destiny Generational
 Forecasting America's Destiny ... and the World's


Generational Dynamics Web Log for 18-Sep-2008
Web site readers express sadness, anxiety and anger

Web Log - September, 2008

Web site readers express sadness, anxiety and anger

It's beginning to sink in.

One reader wrote as follows:

"We really are living though a once in a lifetime event, as you've been saying for a while now. Its no longer just something the fringe doom and gloomers are talking about, its here and now. Not many would have believed even a few months ago that Lehman, Merrill, AIG, Fanny, Freddie, Bear Stearns - would all be wiped out this year. And the year is not over. :-)"

Hell, the week isn't over yet!

"If I remember correctly, the Dow went from 300s to 30s in the Great Depression. Is it possible that it could drop to 1400 this time around?"

That's my expectation.

"I had to laugh ruefully about one of your comments - the one where you say when the market starts to crash you won't be able to make any changes simply due to the sheer volume of people wanting to sell. Well the market fell Friday by 500 points as you well know. Down here in Houston I didn't find out until Monday or Tuesday due to Hurricane Ike roaring through and all local media coverage being given over to the hurricane. Of course now I'm watching as the market dips another 300 points. I'm wondering if my earlier thoughts about DOW 10000 being held steady are correct and given what's happened over the past few days if anyone has money available to maintain that level anymore.

It's a weird feeling just sitting here and watching the market crash. You can see it coming but there's not a blessed thing you can do about it."

It's never too late to start preparing. Don't wait until you run out of choices. Take steps today to preserve as much money as you can.

"I see Bill Fleckenstein on MSN Money has noticed the S&P 500 earning ratio is now over 25 times earnings, how long before the markets catch up and chaos insues. How long I think. I continue to follow your blogs and thank you for doing such a good job of watching to the world."

Amazing! An analyst who actually takes price/earnings ratios into account! They'll probably have to fire him now.

This comes from someone in the Silent generation:

"OH, yes, the economic meltdown has become so obvious even the talking heads are talking in terms of "once in a the past 80 years ...."

Brother, can you spare a dime?

I am SO glad I paid off the house and car and rental condo, moved my account over to [a Federal Credit Union], and got a lot of the major work done on the house, yard, and self before this hit. It's a pity I am no longer up to such things as putting in vegetables myself.

I've been advising people to seek out any genuine Senior Citizens among their kinfolk and acquaintances and get their stories before it's to late."

This is a sensational idea. If you have somebody in your life who's 70 years old or older, then get a tape recorder and go talk to that person. Find out what you're going to be facing in the next few years.

The following is from an old online friend, living in Florida:

"We're doing okay, hanging in there but running out of liquid funds quickly."

Here's what I wrote in answer to a question from a web site reader several months ago, "More questions from readers on finance and investing":

Question from reader: "Picture yourself a 30 year old father of 3 kids under 5. There is a lot of love in my household and not so much cynicism. What would be the best advice you could give for our immediate future? Thanks for your reply."

Answer: "Picture a world where you're a 30 year old father with 3 kids under 5, you've lost your job with no hope of getting another job, so you and your family have to live for the foreseeable future on what you have today. How would you change your life?

You would save every penny, knowing that if you can save a dollar today, then that dollar may save your life a year from now. You would cut out every expense not necessary for survival - magazine subscriptions, piano lessons for the kids, clothes, movies, pizzas, wide-screen tvs, lights left on when nobody's around, driving when you can take the bus, etc., etc.

The best advice I can give you is to speak to your family now, tell them what's coming and why you have to save every penny, and then follow through.

One more thing: Many people should start thinking about moving in together. Two families sharing a home will save a lot of money. If your rich cousins have a couple of extra bedrooms in their mansion, ask them if you could live there. You'll both save a lot of money."

I thank the ever-increasing number of readers of this web site. I spend most of my spare time on this web site, but it's you that make it all worth it.

The amount of e-mail has been increasing, but I'm still managing to answer pretty much all of it, although sometimes it takes me longer than it used to. As usual, you're invited to send me a comment or question via the "COMMENT" link at the top of each page.

I'll end with the same message I've given many times: No politician can stop what's coming, any more than they can stop a tsunami. You can't stop what's coming, but you can prepare for it. Treasure the time you have left, and use it to prepare yourself, your family, your community and your nation.

Once again, my friends: Treasure the time you have left. (18-Sep-2008) Permanent Link
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