Monday, October 6, 2008

Wall Street Crashes


During the day today, Wall Street crashed down over 800 points, the biggest ever yet. I believe by the end of the day, it was down 300 points. People are seeing their 401k's evaporate before their eyes. Everyone I talk to says their 401k's are looking pretty sick. We have yet to see the results of the big 700 billion dollar bailout and I heard it will take several days to tell what effect it has on anything. Now we are hearing about businesses further down the line that are going bankrupt or near it. Who is next? What is next? They haven't seen anything like this since 1929. The Dow is down over 1000 in a short time. No one seems to know where it is heading. It is anyone's guess. Those who have their homes paid for and credit cards paid up and no car payment have got to be in the best shape. And yet, people who never thought they would be laid off or lose their job are having just that happen to them. It is a scary and sad situation for many people. And with grocery and gas prices rising so much, those on limited incomes are hurting even more. Food banks and free kitchens are giving away more food and serving more meals in towns you would never expect. There was one on the news tonight just 20 miles from us that has a run on their stockpile of canned goods and foods for the needy.

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