Give Mark Rosenfelder a read:
http://zompist.com/libertos.html
http://zompist.com/richtax.htm
http://zompist.com/welfare.html
I am freaked-the-fuck-out. Are you kidding me? Over $50k invested in mutual funds and retirement funds. My mother lost like $10k of her 401k value. My brother in law, who works for AIG, isn't getting the promotion he was supposed to get. My aunt who worked for Lehman is out of a job and lost a massive chunk of her 401k and who knows what's going to happen to her pension.
Meanwhile, my wife and I purchased a new home last year (30 year fixed), thinking that the market was close to bottoming while in fact, we weren't even close.
My only hope now is to take the long view on things and hope that things all work out by the time I'm ready to retire. For my mom and aunt? Both are close to retirement...I'm feeling really down for both of them, especially my aunt who worked so fucking hard at Lehman and put up with so much shit to get to pension eligibility. Plus, she's putting two (ungrateful) kids through college.
These are truly fucked up times man.