What does the current stock market crisis mean to low income people?

Lately everyone is worried about the stock market but I'm curious about how this affects low income people? I don't have stocks, and I don't have money in a bank, so how will this affect me if things get worse with the stock market?|||The answer remains to be seen. Many jobs are created by businesses that borrow money. Many businesses rely on lines of credit, even to make payroll-- the money rolls in and everything balances a week later. What has happened is that the credit market has frozen. This makes expansion only possible with cash- again, many business use credit. It they need to wait to expand, hiring slows and low income people have fewer job opportunities.





The other issue going on is inflation- our dollar continues to be worth less. This makes importing everything more expensive. It makes our exports more attractive, but most of our factories are already closed and not making anything. The other issue is that oil is traded in dollars. When the dollar drops in value relative to other currencies, the price of oil rises.|||It depends on how bad the crisis becomes. If things continue as they did today (down 777 points in an afternoon) then we could find ourselves very quickly having sky high inflation as the government begins printing money to keep banks afloat and subsidizing food and services so people dont riot. Youll quickly find that your current salary wont even buy a fraction of what it used to. (In Lebanon during the war people had to rush to the store after work to buy everything they could because in just a few hours their money would be worth only half of what it was when they got it.) Since this market crisis (dare I say... crash..) is based on substantial banking failures, it could be bad enough that within a week (if that) there will be no more fuel, food, or anything else of value since all the major stores in America (gas stations, Walmart, grocery stores, etc) operate on short term loans just to purchase their merchandise that they sell to you. If no bank is capable or willing to loan money to these stores, there will be no products for you to buy and there could be a continuation of the already systematic breakdown of our global financial (and social) infrastructure. If things really hit the fan, we quite literally will witness the end of the peak of human civilization. So in short, hope for the best, prepare for the worst.|||DO NOT SELL YOUR STOCK IF YOU HAVE IT.





In 1929 the stock market had the same issue it has now. However, it would have recovered had people not sold all of there stock out of fear of a stock market crash.





They further damaged the economy by withdrawing there money out of the bank when banks flopped. (YOU DO NOT NEED TO WITHDRAW MONEY, BECAUSE YOUR BANK ACCOUNT IN FEDERALLY INSURED FOR $200,000)





I just bought 200 shares of Indigo Energy Inc. (IDGG) in an attempt to save there company.





Buy and Sell stock like you always do PLEASE!!!!!|||Not too much really, and now they want to take your money in taxes to fix it SAY NO!!!





Thank God that every citizen of this country did their duty to reign in an irresponsible government and an out of control corporate banking system. Representatives in the house were getting calls and letters that were 10 to 1 against the bill. Despite their best efforts they could not ignore the will of the people. Now we must remain vigilant and make sure that they don't sneak this past us now that we think we've won. No help for failing banks, no bailouts for billionaires, they made there bed and now they have to sleep in it! Go US! We did it!





http://nannystateusa.blogspot.com/|||If you dont have any accounts (bank, investment, 401K) tied to the market then it wouldn't directly impact you. The one thing that this may mean for everyone is that it will be a bit tougher to qualify for loans going forward.|||prices will go up -- credit will be tighter and folks will be laid off!!!