Thoughts on the current economic climate

Warning: I’m about to sound incredibly naive.

The current economic climate is a definite damper on the mood of the country. When I talk to people, friends, colleagues .. I wait to hear them say, it’s all going to get better. But they shake their heads in dismay and shurg. And then I wonder – are they, like me, waiting for others to say and give hope that things will turn?

I’m young and resilient and don’t have kids, a house or any loans. I kept wondering – how is this economy affecting me? My job is fine – we are all still busy at work.  I don’t cook much and I eat outside most of the time so an extra buck here and there doesn’t impact me much. My teeny stock portfolio is down 30% but I only started investing last year so I have to act like that money doesn’t exist and just wait for it to go up, which it will eventually.

So in short, I am fine. But people around me, perhaps not so much. Especially some family members who were ready to retire only to realize their retirement has dwindled overnight without them having tocuhed it. Thats sad. My father’s investments have plunged as well but he assures me that he is only 52 years old and hence fit as a horse and ready for the markets to move up when they do. Thank god for that old soul is ever the optimistic man.

My roommate, who happens to be a trader on the almost non-existant Wall Street, tells me that we haven’t hit rock bottom yet. That we are holding off in the hopes of this election. That perhaps, that might put the faith back in the market.

I read the WSJ, watch the news and make intelligent conversations with people about the economy. Or atleast try to. But I have no fucking clue what is going on or when things will begin to look up because its not even the economy anymore, its those soddin’ emotions. And who was ever able to predict them?

I have no advice or wise words to give out or solicit. But I’m doing all I can – which is, not losing faith.