Custom Search

Thursday, January 1, 2009

Financial Year in Review

From The Hoss's Mouth

Should auld acquaintance be forgot, and never brought to mind? Many investors and readers of Hoss Cents Free Financial Money Magazine would surely like to forget the financial devastation that took place in 2008. North American Stock Markets suffered one of their worst years ever.



Take a look a these numbers:
  • Dow Jones down 33.8%
  • S&P 500 down 38.5%
  • NASDAQ down 40.5%
  • TSX down 35%

These numbers combined with job losses, or threatened job losses, collapse of the housing industry, credit unavailability and unstable world economics has resulted in consumers loosing confidence in the financial system. As a result they have cut their spending significantly. Reports indicate the Christmas season, which normally provides retailers with 30 to 50 percent of their annual total sales, was not as lucrative as retailers are accustomed to and therefore some stores may be forced to close.

So what happens in 2009?

The financial crisis will not end unless or until people regain confidence in the financial system and learn to live within their means. Families will have to forgo unaffordable and unnecessary luxuries such as an extra car or two, big screen TV's, multiple cell phones, and dinning out just to name a few. In other words, people will have to learn to set financial goals and live by them. The Hoss has several previous posts which will help in this regard:

The Hoss and Mrs. Hoss hope you have a happy healthy and prosperous New Year.

Stay on track,
The Hoss

Next Hoss Cents Free Financial Money Magazine Post: Financial Crisis Deepens, Obama
Previous Post: North American Auto Industry Christmas Package

0 comments:

Post a Comment

Stock Ticker

Disclaimer

The Hoss is not a financial adviser. This blog is a reflection of his personal opinion, experience and financial choices. For financial assistance, please consult a licensed financial services professional.

The contents of http://free-financial-money-magazine.blogspot.com are provided for informational and entertainment purposes only, and should not be construed as advice. This material is not intended to provide, and should not be construed as providing individual financial, investment, tax, legal or accounting advice.

While the information shared on this website is believed to be accurate and reliable, the owners/operators of this website specifically disclaim all warranties, express, implied or statutory, regarding the accuracy, timeliness, and/or completeness of the information contained herein. Individuals leaving comments on this site are solely responsible and liable for the contents of their comments. Because this website is intended to provide general information only, you should discuss your specific needs with a qualified licensed financial services professional.

Links to other websites are for convenience only, and are independent from http://free-financial-money-magazine.blogspot.com. No liability is assumed for any inaccuracies in the information or for the content of any linked websites. No endorsement or approval of any other products, services or information is expressed or implied by any information, material or content referred to or included on, or linked from or to this website. No liability is assumed for incompatibility, non-suitability, viruses or other destructive/disruptive components on or from such websites.