by Elsewhere 39 Replies latest jw friends
"They have effectively stolen the money and growth that should have been coming in over the next 20+ years."
"It all crashed when the bafoons decided that the debts they were selling were actually a good investment and could generate them even more money so bought into their own scam."
Do the French still make guillotines?
For most of our friends over 50 that have lost most of their investment/savings, it will take another 20 years to try and make up that cash. It's unlikely to happen so a lot are not going to retire if they still have a job and for those that don't - it looks grim. There have been about 15 Ponzi scheme's uncovered in the past year and all of those have bilked millions-billions out of people. That's money that isn't coming back. Although this is not touted to be 1929 - we've seen at least 10 millionairres committ suicide after losing their money. As for the little guy - we've been hearing about 'suspicious' deaths that are attributed to foreclosure and job loss but I think we'd be really amazed at how high those numbers really are. Another one today - how sad - sammieswife.
LOS ANGELES — A man fatally shot his wife, five young children and himself Tuesday after he faxed a note to a TV station claiming the couple had just been fired from their hospital jobs and together planned the killings as an escape for the whole family. "Why leave our children in someone else's hands," Ervin Lupoe wrote in a letter posted late Tuesday on the KABC-TV Web site.
The station called police after receiving the fax, and a police dispatch center also received a call from a man who stated, "I just returned home and my whole family's been shot."
Officers rushed to the home in Wilmington, a small community between the ports of Los Angeles and Long Beach, about 8:30 a.m., apparently within minutes of the killings. Officers could still smell the gunshot residue in the air.
Although the fax asserted that Ana Lupoe planning the killings of the whole family, police Lt. John Romero said Ervin Lupoe was the suspect. A revolver was found next to his body.
Ana Lupoe's body was found in an upstairs bedroom with the bodies of the couple's twin 2-year-old boys. The bodies of an 8-year-old girl and twin 5-year-old girls were found alongside Ervin Lupoe's in another bedroom.
All were shot in the head, coroner's Assistant Chief Ed Winter said.
It was the fifth mass death of a Southern California family by murder or suicide in a year. Police urged those facing tough economic times to get help rather than resort to violence.
"Today our worst fear was realized," said Deputy Chief Kenneth Garner. "It's just not a solution. There's just so many ways you find alternatives to doing something so horrific and drastic as this."
Story continues below
Lost 83% of my 401k this year for owning GM stock.
I'm surprised some of you older folks lost as much as you did. I thought everyone knew you were supposed to move investments to be more conservative (ie, out of the stock market) as you get closer to retirement?
very said about those families committing suicide because of the extreme economic situation. I haven't heard of any over here yet.
During the summer we did get advice on how to survive economically but then that stopped. I think governments could do more to educate on how to survive emotionally and also economically etc. But I'm guessing they don't want to create a panic. If people are becoming overwhelmed then something ought to be done nationally.
In our case retirement will have to look out for itself.
I'm sure there have been quite a few suicide because of lay offs but this wasn't the case here. This husband and wife were fired for doing something apparently illegal.
Kaiser Permante was in the new twice yesterday. Once for the seven deaths mentioned above and the other time for the woman who gave birth to eight children at a Kaiser hospital.
The total value of mine has stayed flat, but that is only because of my contributions. It has lost 25% of its value when the bear market and the financial crisis started.
BTS
Yep. Mine showed that I lost every freakin' penny I put in this year (including employer contributions, which they stopped effective Jan.1), and then some.
I'd do better sticking money under a mattress.
I hope no one makes the mistake of giving up on there 401k or IRA now. This might be the best time ever to be adding money. If the market stays down for the next three or four years and you keep adding to it you should be in pretty good shape when things go up again. I just picked up Suze Orman's new book "2009 Action Plan". I hope to get some good ideas on which direction I should go in this year.
I hope no one makes the mistake of giving up on there 401k or IRA now. This might be the best time ever to be adding money. If the market stays down for the next three or four years and you keep adding to it you should be in pretty good shape when things go up again. I just picked up Suze Orman's new book "2009 Action Plan". I hope to get some good ideas on which direction I should go in this year.
To sell now is to lock in the losses. One hopes a reversion to the mean is in the offing, hopefully soon. Besides, retirement is for quitters.
BTS
