The Dow Jones Industrial Average plunged 777 points, the biggest ever single-day crash, on Sept. 29, 2008, allegedly after the U.S. House of Representatives rejected the government’s $700 billion bank bailout plan. The drop obliterated $1.2 trillion in market value.
This morning, the DJIA dropped, at opening, nearly 1,100 points. We won’t know until the end of the day what the total loss will be. The DJIA must climb another 400 points to avoid recording a new low for a one-day stock market loss.
Looks like I sold off my own stock just in time. I was worried because I feared Wall Street might panic at China’s imploding economy and stampede into a sell-off. I needed my money. I should have sold it back in the Spring.
Unlike the Wall Street gang, I wasn’t jittery about the stock market. Well actually, I was. But my reason for selling off my stock is that I’m broke and having trouble finding another job. Another job that doesn’t involve standing up all day, as in Wendy’s across the street or Burger King down the road. Arthritis has caught up with me and I just can’t do a stand-up job.
I didn’t think finding another position was going to be this difficult. I thought surely I’d be able to sign up with a temporary firm. Whatever company engaged me would find I’m more than capable of doing the work, especially keeping them organized and I’d find my place again among honest, working people.
Instead, they want to review my resume ahead of time to make sure I’m not a long-term unemployed casualty. Damaged goods. Someone behind the technical curve. The situation is frustrating and depressing.
I’m up-to-date on Word, Excel and PowerPoint. I’m fluent in programs like InDesign because I’m so old I learned the language when I was a young 20-something like the young people they’re hiring now or making the hiring decisions.
You’d think I was begging for charity. All I want is some 9 to 5 office job. At this point, even part-time would be okay.
However, this is a buyer’s market, the buyers being the companies and they can afford to not only be picky, but discriminating and outright nasty. The hiring e-mails coming through from hiring consultants say that if you use AOL or know MS-DOS, your skills are outdated (DOS language isn’t outdated in InDesign; the application is based on DOS language).
But this is Obama’s scheme. The Baby Boomer Generation is the up-and-coming Social Security generation that will turn 65 in the next decade. The Social Security coffers are barren, thanks to corruption of this entitlement program that rewards illegal immigrants instead of those who earned the benefits. So we’ve been thrown out of work, deliberately I believe, in order to lessen the benefits we can claim.
Our benefits not only will be reduced, but we will also have spent our retirement pay struggling to get by these next ten years. Those stocks were meant to see me through retirement. Now they’re only going to last another few months. Then I’ll be back to mounting up debt on my credit card, unless a job miracle comes through.
Seeing the DJIA drop nearly 1,100 points this morning was discouraging. This will mean more lay-offs and more competition for non-existent jobs.
Did this Baby Boomer help set off a stock panic? Well, maybe one of those companies should have hired me. Or someone like me. Then we wouldn’t have had to sell our stocks in order to meet the next mortgage payment, rent, or property tax payment.
With every drop of the Dow, we’re transforming into Obama’s socialist state where the very wealthy – who get bargain prices on our cast-off stocks – will enjoy vacations to Disneyworld, the Caribbean, and Fiji. Meanwhile, the hoipoloi will be branded “losers” and dropped off into the economic abyss, wondering how we’re going to keep a roof over our heads.
My younger brother is building a gigantic new shed on my mother’s property. When you’re his height, you tend to build big.
“Install insulation,” I said. “I may have to live here.”