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Nutrition and Health in Callaway County

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The Senior View

 

November 2001

Coping with Tragedy and Personal Financial Issues
A Little Bit Of History  “The History Channel”
Websites for Seniors
Acting Commissioner Massanari Talks About Direct Deposit

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Coping with Tragedy and Personal Financial Issues

As our nation attempts to recover and rally together in response to recent tragic events in New York City, Washington, D.C. and Pennsylvania, financial markets have become even more volatile than before. And while your gut reaction may be to cut your losses, at OppenheimerFunds we believe that your focus should remain on your previous long-term financial plans and goals.

Nobody knows what tomorrow may bring, but we can look at the markets' history during past crises for some reassurance and to help us gauge what may occur.

American Market History During Crisis
During nearly every recent major event in American history, worried investors selling their investments initially lowered stock prices. Once confidence was restored, either by the passage of time or as a result of government action, the market rebounded and nerves calmed.

  • After the start of the Korean War in 1950, the Dow Jones Industrial Average (DJIA) dropped 12.0% over the course of 20 days. Three weeks later, it had gained back 9.1% and three months later, it was up 19.2%.
  • Following the assassination of President Kennedy in 1963, the DJIA dropped 2.9%. Twenty-two days later, the average had risen 7.2%.
  • During the U.S. invasion of Kuwait and Gulf War crisis in late 1990, the DJIA fell 4.3%, but within a few weeks, it rebounded nearly 20%.

    Confidence from Federal Financial Officials
    "The U.S. economy is strong enough to survive the short-term impact of the worst terrorist attacks in U.S. history," Federal Reserve Chairman Alan Greenspan told Congress Thursday, 9/20.

    While nobody can control the markets, and nobody knows how they will perform in the weeks to come, measures are being taken to provide support:

    • After the September 11th attack, the Fed cut short-term interest rates by 50 basis points - the eighth rate cut this year.
    • The U.S. Congress sent a $40 billion relief package to President Bush, which he signed shortly after the attack.
    • Stock prices were significantly lower on September 17th and despite large volume and heavy sell orders, the markets operated in an orderly fashion with no significant problems reported.

    The Big Picture
    Market volatility is not easy for any of us.  Don't go it alone and make hasty, emotional decisions, which could take your long-term financial plan off course.  It is important to stay focused on your long-term plan and goals, review the diversification of your portfolio allocation, and talk to your financial advisor whenever you have questions.

    Reprinted with permission:  OppenheimerFunds Mutual Fund Company www.oppenheimerfunds.com

A Little Bit Of History  “The History Channel”
Women in the 1500’s cooked in the kitchen with a big kettle that always hung over the fire.  Every day, they lit the fire and added things to the pot.  They ate mostly vegetables and did not get much meat.  They would eat the stew for dinner, leaving leftovers in the pot to get cold overnight, and then start over the next day.  Sometimes, the stew had food in it that had been there for quite a while.  Hence, the rhyme, “Peas porridge hot, peas porridge cold, peas porridge in the pot nine days old

Sometimes they could obtain pork, which made them feel quite special.  When visitors came over, they would hang up their bacon to show off.  It was a sign of wealth that a man “could bring home the bacon.”  They would cut off a little to share with guests and would all sit around and “chew the fat.”

Those with money had plates made of pewter.  Food with a high acid content caused some of the lead to leach into the food, causing lead poisoning and death.  This happened most often with tomatoes, so, for the next 400 years or so, tomatoes were considered poisonous.

Most people did have pewter plates, but some had trenchers, a piece of wood with the middle scooped out like a bowl.  Often, trenchers were made from stale bread, which was so old and hard that they could use them for quite some time.  Trenchers were never washed, and a lot of times worms and mold got into the wood and old bread.  After eating off wormy, moldy trenchers, one would get “trench mouth.”

Bread was divided according to status.  Workers got the burnt bottom of the loaf, the family got the middle, and guests got the top, or “upper crust.”

Websites for Seniors

Check Them Out

www.ssa.gov/applytoretire
Apply for Social Security retirement benefits online

www.ssa.gov/medicarecard
Replace Medicare card

www.ssa.gov/1099
Request a Form 1099 showing how much you have received in benefits

Does the word “hippology” look strange?  It does not have anything to do with a hippopotamus.  It comes from the Greek language – ology meaning “the study of” and hippo, the word for “horse.”  Now you know!  Hippology is the study of horses.

Acting Commissioner Massanari Talks About Direct Deposit

In response to recent concerns about our nation's mailing system, Social Security's Acting Commissioner, Larry Massanari, issued a statement.  "I want to assure the American public that these incidents have not adversely affected the payment of Social Security or Supplemental Security Income (SSI) benefits."

"For those who have concerns, I want to encourage them to use the most convenient and safest way for beneficiaries to receive their payments -- Direct Deposit."  Direct deposit eliminates concerns about delayed mail.  It eliminates the need for frequent trips to banks; payments are deposited automatically into accounts and are readily available for immediate use.  There is no need to wait in long lines to cash a check or to worry when a visit to a bank is difficult to make.  With direct deposit, the possibility of a stolen check is removed.

"At the Social Security Administration, we understand that recent incidents have raised concerns about changes in the way we have traditionally lived our lives.  We are doing everything that we can to make sure our service is as dependable now as it has been for over 66 years."  http://www.ssa.gov/pressoffice/direct-deposit-pr.htm


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If you are interested in having this newsletter mailed to you, please contact us:

University of Missiouri Extension Center of Callaway County
5803 County Road 302, Fulton, MO 65251. 
callawayco@missouri.edu
Tel: (573) 642 0755

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