The Bear Stearns buyout/fed cutting interest rate again - your thoughts?

**Dutchie** · 03-17-2008, 06:53 AM

I saw this on our early morning news - didn't really think too much about it.
Then later this morning I watched some of the CNBC Europe programming.
Oh my goodness!!!!
I realised that this is alarming news - single people have lost BILLIONS of dollars overnight.
I heard that JP Morgan is buying the company for about $236 million. It was worth about $3 billion last Friday.

ALL of the markets are losing A LOT.
To be quite honest, the first thing that I thought was - isn't this a lot like the 1930's that people lost so much money?
I certainly am not an expert in these matters but for one reason or another, this troubled me more than all of the previous annoucements in the last months put together.
Also the Federal Reserve got together on a Sunday to lower the interest rate which is unprecedented.
What are your thoughts?

**ladykemma2** · 03-17-2008, 07:17 AM

my thoughts?
store food, garden seeds, precious metals, buy garden tools to replace old ones now, fix up and repair property, buy canning jars and lids, talk to depression era survivors, like my former MIL, and read everything you can get you hands on about self reliance and provident living.

basically gordon B hinckley's advice for the past 20-30 years.
walton feed is a good site.
i learned in econ 101, that the ecomony cycles every 60 years, we are overdue for a low point.

**DixieJ** · 03-17-2008, 02:06 PM

I thnk the more we all learn to be more self sufficient, the better off we'll be. I can remember stories from my folks about the great depression. They had it rough, but nothing at all like many others had it. They were all all farm folks and raised most of their food, meats, vegetables and fruits as well as dairy.

**M55FF** · 03-17-2008, 03:05 PM

my thoughts are purely on my investments, namely that my CD's are not doing as well as I had hoped when I initiated my investment plans around them in my portfolio 2 years ago.
My stocks have not lost but they have not risen in the last 3 years ( mostly nasdaq) ...
but I did manage to make a six digit income trading ( not day trading but week or month trades) in 2005....

now I'm not comfortable trading much so I'll sit back and ride it up...
what goes down must come up and luckily I've positioned myself
to ride out the storm ( debt free 12 years). I am in a postion to make money if we go into another depression as I'll be buying up stocks like mad if they topple into worthlessness. So where is bottom?

**Laurie in Bradenton** · 03-17-2008, 05:39 PM

Wish I could get the govenment to forgive my debts and bail me out when I make a bad deal.
When you look at the $60,000. I owe its not even a moist spot in the bottom of the bucket.
Laurie in Bradenton

**FrugalMomof3** · 03-17-2008, 06:00 PM

Originally Posted by Laurie in Bradenton

Wish I could get the govenment to forgive my debts and bail me out when I make a bad deal.
When you look at the $60,000. I owe its not even a moist spot in the bottom of the bucket.
Laurie in Bradenton

Very well said. I just think that those of us who trully live frugally will not see a difference but those who are scraping by and using credit cards and the such to squander are going to be crying later on.

I am glad I found FV because I have learned to live on nearly next to nothing but am debt free (except mortgage) and I am not worried in the least about things. Remember God doesnt give us anything we cant handle.