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Times is tough...


Groomlakearea51

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I'm seeing less folks out on the street this year asking for hand outs than in prior years.

I think there's been some formalization of support infrastructures.

In NYC, we actually have folks checking covey holes and hidding spots for folks who are home less and arrange for them to be taken to shelters.

You can't walk a hundred feet with out seeing a coat collection point, toys for tot's, etc.

There's a group that walks the sub way lines offering food to those that are in need and actually hand out quite a bit of grub.

Goodwill and salvation army move quite a bit of goods this time of the year, especailly clothing.

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Michael, Not a good time to have a "year end" with a stock broker...most likely ended with a "tear end".

In Danville, where I work, the economy ususally doesn't follow the national economy in that it never booms like the rest of the country, so, it never falls like the rest of the country. This is the first time I can recall our local economy being squashed. Donations are waaaay down. We gave a 16 ' truck load (literally) to Goodwill when we moved, they commented they really needed donations this year.

The biggest reasons I didn't partisipate in this board for a long time this year was I tried my shot at day trading. While I did REALLY well most of the time, the few months that had tremendous corrections and legs down killed me. Before the October/November market quality tankage, I had my trading account even, and my IRA was eaten alive. Now it's all eaten alive!

The good news....plenty to write off for years to come. I wish congress would up the amount one can write off annually in stock market loses.

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The biggest reasons I didn't partisipate in this board for a long time this year was I tried my shot at day trading. While I did REALLY well most of the time, the few months that had tremendous corrections and legs down killed me. Before the October/November market quality tankage, I had my trading account even, and my IRA was eaten alive. Now it's all eaten alive!

Unless you (not you Phil, but referring broadly to someone who is 'day trading') are sitting in front of your screen during the day (in other words, do not have a regular day job) then I'd suggest trying day trading is a bad idea.

I know it's not quite in vogue like it was a handful of years ago when everyone was doing it... virtually ever single person that came our way and was either a day trader or was going to be.... has gone by the wayside. Fortunately, we turned most of them away except for one who insisted we allow him to do it... I think he lasted maybe 6 months. This was prior to the tech bubble bursting.

Not saying that it can't be done and some don't do it successfully... I just think most don't have a real idea of what it takes and are somewhat romanced by the notion of it.

As for

The good news....plenty to write off for years to come. I wish congress would up the amount one can write off annually in stock market loses.

What sucks there is you can't take any of your IRA losses so in that context, IRA losses are pissed away. I guess that double sucks. [8o|]

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Times are indeed tough! Due to lack of sales, my employer's biggest distributor cut off our weekly orders until further notice, thus only a fraction of our products are going to customers (thanks to the lousy economy and sky-high prices). My hours have been cut from 40 to 20 a week, and good local jobs are scarce. I haven't been able to put anything away in my IRA account for over a year now...you can say I'm a bit worried about my future.

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Times are indeed tough! Due to lack of sales, my employer's biggest distributor cut off our weekly orders until further notice, thus only a fraction of our products are going to customers (thanks to the lousy economy and sky-high prices). My hours have been cut from 40 to 20 a week, and good local jobs are scarce. I haven't been able to put anything away in my IRA account for over a year now...you can say I'm a bit worried about my future.

Just wait until you start hitting your IRA only to pay monthly bills and then pay IRS for that money. Jim, don't worry about the long term future, worry about the short term present.

Our greed be hanged. Much more than that to me.

Great job![:@] Mission accomplished on 9/11[8o|] Just MHO.

tc

EDIT: I forgot to mention that I belong to the construction community. No matter how up-scale my nitch might be, I have let go over 30 people in the field so far. Some of these guys have been here for over ten years. Some are PE's. Breaks my heart.

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This is the first time since I've been out of high school (20 years) that new home construction is virtually at a stand-still. Had a good run, though.......Balls out 12 months out of the year for almost two decades.

I haven't worked in 3 weeks because THERE IS NO WORK TO GET. [:@]

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