i live in Estonia, in the baltic states, i work in a automatics company, half of our 200 workers lost their job because of global recession. when economy slows down there is simply less need for new industrial automatics systems and production volume simply plummets so we ended up in a situation where most workers just had nothing to do and idled all day.

It’s not, I’m lucky until I my job disappears. I’m a single mother on one, have a good job, car paid off, no credit cards, only mortgage, gym dues, utilities, gas, groceries and private school to be concerned with. I was raised by my grandparents, both WWII vets, grandfather founded a marketing company in Houston and raised us as if we were still in the depression. Therefore, I learned to always pay cash, if I don’t have the cash then I must not need it. Never to have credit cards, and get everything paid off quick if you have to get a loan. The man was right - this process has worked perfectly all my life, and at 43 - I have no debt other than my residence and Uncle Sam. I’ve invested in the stock maket, but the loss has not affected me, due me managing my other obligations. It’s like an extended trip to Vegas, you know eventually the house wins all.

This what I think of it

I’m a Banker!!

http://uk.youtube.com/watch?v=MXeZ3KunyX M

This financial crisis, as it is being called, has had NO affect on me. I do find it interesting that the people that are being affected are not up in arms clamoring for jail time for the politicians and greedy loan sharks and CEO’s of the companies that have caused this crisis.

On the top of the list to be charged would be Barney Frank, Chris Dodd, Nancy Pelsoi and Harry Reid. They all are culpable in bowing to ACORN to give mortgages to those that could not pay them back.

They promoted the so called NINJA loans (No Income, No Job Applicant).

Ironically, OPEC is now getting their financial rewards also. They caused the price of fuel to explode and now with demand worldwide dropping they get to reap what the have sewn.

Our idiots in Washington that demanded and still do, the use of food products (mainly corn) to be used to make ethanol shall also get to reap the rewards of causing insane inflation in both the foods we buy and the fuel we need to operate on a daily basis. Many of them will be voted out of office next month, at least I hope so.

One thing we do not need in this country is a Socialist government. Should Obama get elected and Pelosi and Reid control the Congress and Senate this country will certainly be entering the world of Hugo Chavez and Socialism.

People, we are at the crossroads and we need to take our country back and demand our politicians represent us and not just the special interests. Good luck to us all.

God Bless America. We are going to need his blessings and help.

investing is simple but not easy

I’m not an economist but here’s an idea to maybe help with the financial crisis…
What would happen if all home loans were done on simple interest? I need $100,000.00 for a home. The bank charges me 25% simple interest. My total I owe is now $125,000.00. That would be a payment of appx $350.00 per month over a 30 year period. My idea would have the bank get all their interest money first, any extra sent in would also go to the interest. Once the interest is paid then the payments start going towards the principal. I see this helping in multiple ways…First, the bank gets their interest money back much faster, not over a 30 year period. Second, my monthly payment is much less than it is now with conventional interest schemes. Enough so that I will probably want to pay off the note in it’s entirety much faster. Also, I have now only paid 125K for my house instead of almost 300K with the current system. More people could afford housing, more houses could be built, more jobs would be created, etc… I realize the lenders wouldn’t be making as much total profit but they would be making it quicker from more people overall, and lets face it, they aren’t making much of anything right now. I’ve pointed out the “pros”, someone give me the “cons”.

australian citizen yesterday i bought gold equiv to 1/3 of my savings…no-one knows how long this thing could last or its far reaching implications..all one can guarantee is now is not the time to buy - no reward can be justified by the risk in this market…gold will go to 1900 by the end of january 09.

I’m a college student, currently. My current feelings about the economy range, but overall, I believe that this creates an opportunity for our generation to analyze exactly what went wrong, and watch and see, and try to understand how to fix it. It’s going to be our problem, and it’s going to be a global one at that, so the isolationist ideals that America has traditionally embraced will be our undoing.

I am beginning to see how I can come into the world more learned, cautious, and understanding, thanks to the failures of the previous generation. It’s not yet our time to step onto the stage, and given the current conditions, I’m not sure we want to. However, we really don’t have a choice, so this economic crisis is one of the many things that I and my generation can learn from.

So although my college costs are going to be crushing when I finally get out, and although it will be difficult for me to find a job, I am glad that I am able to be learning from these events, and especially the events of the past two decades, so that when I begin to make my own in the world I can do it right.

I think from now on I wont be able to buy a loaf of bread! I’m serious because I’ve almost lost 20.000 euro in the last 3 three weeks due to the sharp decreases in stock markets. I don’t suppose governments can find a solution to that much big crisis. Everybody is in a worry and on tender hooks!

I live in Europe,Greece and i can say that the crisis has not affected us, as much as the people in USA until now..of course.

In my opinion this crisis was to be expected. The stock market valuations were astronomical and well over the total value of all currency that circulates around the world!! This has to be equalized!! Financial institutions, driven by the “bonus” and “goals” tactics were lending to anyone that could put a signature to a paper, they were lending many times the gross product of whole countries!!! And the biggest “cancer” of all , the derivatives exchange!! Derivatives turned stock markets into casinos, without anyone understanding the amount of risk involved in this market.

Now, the wealth is changing owners, where does it go? We will see…one thing is certain nowadays: cash is king!