| How the U.S. Financial Crisis Affects Hawaii Families |
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| Written by Sunrise on KGMB9 - sunrise@kgmb9.com | |||
| October 03, 2008 08:23 AM | |||
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The economic crisis, a failed rescue by Congress and the reaction on Wall Street may not seem that close to your typical family in Waimanalo, but the after effects are coming. "If your guy in Waimanalo has invested, and he may not have invested on his own. It may be his company's 401K has invested, or he might working for the state or county as a public employee, in which case he's invested through the employee retirement system. And Suyderhoud says those investments took a HUGE hit on Monday and have been taking a big hit for the last year. "That has an impact because it means that your ability to retire for example has been put off. Or you're not going to retire with as many resources. Or it means you might not have the money necessary to send your kid to school. Builders are going to cut back so we're already seeing that in the Hawaii construction industry. About the only good part of the Hawaii construction industry is the public sector construction, government sector construction."              |
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| Last Updated ( December 02, 2008 12:02 PM ) | |||
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