If you are already or expect to be soon affected by the financial crisis

[Shanti Mama]

Post here.

I am neither for or against. I'm just confused. But my tiny, little company is going under in the next week or so. No idea how I'll feed my kids.

edited to add:
The irony is that I run a small OUTSOURCING firm that creates jobs. The work would not be done at all if higher rates would have to be paid. The global ramifications will be huge.

[Captiosus]

1. My sole-proprietorship is pretty much busted..

Going to have to put the whole thing on hiatus until better economic climes. I just got this computer repair and home network design/implementation business off the ground last year. I don't have much in the way of operational expenses, but gas prices are putting me in a pinch (I could raise rates but then I'd be less economically viable vs. "big box" support alternatives) and I've seen less, overall, in terms of available small business loans, even with the SBA's backing, to help with my minor expenses.

Thankfully, I might be able to just put the thing on hold and weather out the economic storm. Since I was only a year in, I hadn't begun to count any profits as crucial to our household finances.

[Extend a Hand]

2. My IT job went to India in April

My husband's job is going next April. We're lucky that he's old enough to get early retirement.

[Tallison]

3. No, I'm a nurse; I'll take barters for service

Contrary to pop knowledge, nursing is THE oldest profession.

BTW, I'm for the bailout, although I think it's a horrible misnomer for essential legislation that contains the damage to Wall St.

[femmedem]

4. My husband builds harpsichords.

I do the decorative painting on the soundboards. It's just the two of us, as small as a company can be. Our market is primarily universities and churches. They buy our instruments with their endowments, which shrank a lot today.

Also, we have an adjustable rate mortgage which could skyrocket to 14% within a few years. How did that happen? A friend of a friend was putting his house up for auction and needed to close really fast. It's a sweet house, 1100 sq. feet--small by most American standards but large enough for me to use half the upstairs as a studio for my soapmaking business (our other minor source of income.) Anyway, we didn't even see our mortgage papers until less than 24 hours before closing. When I read them and called the mortgage broker--who had not even told me it was an ARM when he quoted me the interest rate over the phone!-he said don't worry, you'll be able to refinance in three years. Ha ha ha.

This year doesn't look good for us. Not at all. I wouldn't care about losing the house except we have two cats and two rabbits and it won't be easy to find a landlord who'll let us keep them.

Edit to add: I'm so sorry your business is going under, ShantiMama. It is possible that my soap business will be folding after Christmas, too. It really depends on whether or not I can even find another job.

[MH1]

5. Depends on the definition of "soon"

I'm sure the company I work for will survive - it's relatively well placed to weather this storm. But many of our customers will be hit hard, which means our revenue will be down, just like everyone else.

If I'm lucky, the consultants will be let go first. But since I recently made a lateral move into a new skill area, I think I'm not in the top 40% of my department; plus I don't have much seniority at this company either; so I'm worried.

Edit to add: I think anyone who believes they won't be affected by this financial crisis, is either very isolated and wealthy, or they have their head in the sand.

[Dumak]

6. I fully expected to be able to buy a house/condo in time

for retirement. Enough of my savings have now been wiped out that I'm not sure that will be a possibility. Most of my savings is in mutual funds. No, I'm not an expert on money matters - why should I need to be to survive in this country?

[femmedem]

7. I'm giving this a morning kick

because these stories are important. They keep this issue from becoming too abstract or ideological.