I retired 3 years ago and 'had' a pretty decent nest egg but that sure doesn't look too good now and I also have my youngest in college right now too. I just hope this crap turns around in time for when she graduates in the fall of 2010. Anyways, I did pretty dang good in the stock market in 07 but didn't see this coming in time.
As for who is at fault for all this? It got it's start during the Carter admin when they were talking about how all Americans should have a peice of the American dream. Well, I think most here knows about the bar being lowered for a lot of Americans in this country and things just kept snowballing. The subprime crap started a long time ago and the banks just kept acting like the greedy aholes that they are. Anyone care to do some research on who Franklin Raines was and who appointed him as head of Freddie Mac? I'm not blaming the Dems or the Reps. I'm blaming them both!! Folks, if we keep taking the crap, they will continue to dish it to us and I'm really afraid of (our?) leader that we have now. Who is he going to bow to and do the 'hood' hand shake with next? For those that don't know, he bowed to the kind of Saudi not too long ago. Geez. That floored me! Then shortly after that, he did the 'hood' handshake with Chevez
Anyways, I used to do a lot of rearend work but stopped a few years ago and have been starting that back up. I also have a small machine shop but need to try and drum up some work. I'm sure glad I didn't sell any of my machines like I was thinking of doing....