Dow Jones, pension funds, our savings

Discussion in 'UPS Discussions' started by Dfigtree, Oct 24, 2008.

  1. Dfigtree

    Dfigtree New Member

    The Dow Jones average can't go down below zero, can it?

    Another question: what kind of damage is being do to the UPS pension funds?

    And finally: what kind of damage is being done to our savings?
  2. iruhnman630

    iruhnman630 Well-Known Member

    All pension funds are taking a hit right now, as is everything tied to the market.
  3. scratch

    scratch Least Best Moderator Staff Member

    These are scary times, thats for sure. I noticed a 25% loss in my mutual funds on my last statement, and I don't even want to look where my 401K is at right now. Most people don't realize how bad the current economic problems are. What really ticks me off is that our government looked the other way and let this happen. And I blame both parties. We have Chris Dodd and Barney Frank telling us Fannie Mae and Freddie Mac are in good shape, and this happens. We don't have to worry though, because Congress will do an investigation on itself after the elections. We will get change alright, most of us will be working until we drop dead.
  4. over9five

    over9five Moderator Staff Member

    And so much for Barney Fwanks rescue plan! That was a $700 million waste of our money.
  5. freeloader

    freeloader geek

    I've always tried to live within my means. The house I bought was only 150k and I financed it 30 yr fixed. My cars are paid for. I saw everyone else buying houses for 300k, interest only mortgages and taking out lines of credit to buy expensive cars. 5 years later, its all caught up to them. No more interest only mortgage payment and they are unable to sell the place. Now they are screwed. It's really all about living within your means.
  6. Covemastah

    Covemastah Suspension Ovah !!! Tom is free FU Goodell !!

    Change is comming !!!!!!! We will spread the wealth !!!
  7. Covemastah

    Covemastah Suspension Ovah !!! Tom is free FU Goodell !!

  8. Covemastah

    Covemastah Suspension Ovah !!! Tom is free FU Goodell !!


  9. UPS Lifer

    UPS Lifer Well-Known Member

    This is a classic line. He was my governor and my president and I miss him dearly.
  10. BURMDPsupe

    BURMDPsupe Member

    Freeloader, I'm in the same boat as you; it pays to be fiscally frugal. The only thing I do worry about is the long term impact of this financial crisis with my 401K.

  11. gandydancer

    gandydancer New Member

    We'll see if you still think so if "forclosure relief" passes and they end up owing less than you do at a lower rate of interest.
  12. newworker

    newworker New Member

    wasn't $700 million the first proposal that the Republicons defeated?

    Another $150,000,000 of pork was added before the Republicons jumped aboard and passed it.
  13. brownIEman

    brownIEman Well-Known Member

    well, if we are going to go partisan on this and blame republicans, I am going to have to ask how the minority party can defeat a bill? Simple numbers, if all the democrats vote for a bill, and EVERY republican in the house votes against it, guess what? it passes.
  14. newworker

    newworker New Member

    5 Democraps changed their vote from no to yes

    59 Republicons changed their vote from no to yes
  15. upsdude

    upsdude Well-Known Member

  16. upsgrunt

    upsgrunt Well-Known Member

    We started referring to ours as a 201K now as it is worth about 1/2 of what it used to:sad-little:
  17. Monkey Butt

    Monkey Butt Obscured by Mirrors Staff Member

    Stealing from a post in the Lighten UPS forum:
    This is worse than a divorce. I lost half my money and I still got my wife. (or husband for The Other Side).
  18. Fullhouse

    Fullhouse Member

  19. helenofcalifornia

    helenofcalifornia Well-Known Member

    I get tired of reading and hearing from fear mongers.
  20. tunemixer

    tunemixer New Member

    And so much for Barney Fwanks rescue plan! That was a $700 million waste of our money.

    Waste of our money? You mean Chinas money or some other country. You don't honestly think we have that money do you? Just like Obama saying hes' going to use the money we are funding the war with to help bail us out. Yeah Bullsh$t . That is also borrowed money from China. We are so deep in debt there is no sign of digging outin our lifeime. If you believe Obama is going to be our savior then I have a slightly used bridge to nowhere to sell you.
    God help us if Obama gets elected and the Dems also take over congress. Kiss your sweet as$ goodbye.