Anyone being hit by the current financial situation? Like losing a job, having to quit, losing money because of stock options, etc?
The world has been trapped in its capitalism, and now nobody know how to get out of there. US has been forced to save AIG now after having said they would not do so less than 24 hours ago, thanks to this concept of "so big it cannot fall". These companies are so big their bankrupt would affect the worldwide economy, not just the local one, so the governments are forced to use their citizens' money to rescue them. And so the vultures try to find those companies that are at least as big as the one just rescued with similar problems, buy stock, and wait until the company goes bankrupt and force the government to spend money rescuing them again.
I used to have stock options on US and Argentina (started when a friend said airlines stock was on the ground a few days after the 9/11 terrorist attacks, bought British Airlines stock at USD 150, sold it at USD 500 almost two years ago, LAN at 1.20/8.50, Soutwest Airlines at 15/16, etc), but sold most of them between September 2006/December 2006. Now this catastrophe is calling me: the current prices for most but investing companies are pretty low, and they will recover in some months... but it seems a couple more banks will crumble before all is said and done. Someone else is getting the call?
I run with some advantage... you cannot keep money in banks here, because the interest you get is much worse than inflation, so your money is quickly devalued. So, as soon as I get some money I spend it in something (usually house articles, construction materials and so). But this is probably the last big opportunity until a Republican wins the US elections someday?. Don't know what to do?
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