I have a friend who, a few weeks ago, became the first person we know to succumb to the current financial crisis. Yes yes - we've all felt the heat, and we're all tightening our belts, but hers is the first family I know who has lost it all. She calls herself our own personal Canary In A Coal Mine.
Here's how: 1. Her husband is in Real Estate development for large fancy-pants apartment complexes. 2. My friend “does a little day trading”. This is how she puts it. The truth is that she provides a substantial and dependable second income for her family. 3. They bought a house in Los Angeles in 2004.
Everything started falling apart about a month ago. The stock market, as we all know, has been going wanky (that’s a technical term), prompting my friend to quit day-trading for a while. It just wasn’t working anymore. This was a blow to her personally, as well as to their bottom line. A week later her husband lost
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