Recession, depression, anxiety, frustration, fear -- all words on the tip of everyone's tongue in light of the current state of today's economy.

Pahrump residents of all ages are dismayed by the turmoil on Wall Street. However, people at or near retirement age are particularly anxious about how the plunging stock market is affecting their 401k retirement accounts.

"I'm planning a full retirement at 66. I'd certainly be more concerned if I was 63, 64," said Lou Sposato, 55, owner of the StageStop Casino. "I'm wondering how long this is going to take to turn around."

John Melville, 65, has already reached that point.

"I lost 50 grand since this started," Melville said. "I've lost $4,000 in one day."

"This is the worst we've been in history and it's not one person, it's all the politicians. They should all be shot," Melville said angrily outside the Pahrump Bank of America.

He's employed at a local recreational vehicle business.

"I was planning on retiring soon. I don't know what's going to happen now," Melville said.

One elderly gentleman, Paul Campion, 73, said that, while the economy has "hit us pretty good" and his "IRAs took a dump," people shouldn't panic about their IRAs just yet, especially as anything under $100,000 or so is still protected.

To deal with the economic downswing Campion, a retired real estate broker from California, has had to cut back on everything from trips to Vegas to even buying groceries.

He said, "buying groceries has put a dent in my budget" and to compensate he buys less and buys in bulk.

Add to this the fact that many elderly must deal with one or more medical expenses. According to Campion, his medication co-pays have doubled.

Some Pahrump residents said they already moved their retirement money from stocks to safer investments.

"A lot of the money I had I moved out of the stock market and into interest-bearing accounts," said Randy Jones, 53, a probation officer, "I did lose some. I lost about four or five grand and I took it all out."

Jones boasted he did make some money reinvesting in the stock market just before the Dow Jones made almost a 1,000-point rise recently.

"This is just America. It goes through cycles. This is a down cycle," he said.

John Bundy said he has a business investing in gold and silver instead of stocks.

"I'm sick and tired of being manipulated," Bundy said, citing as proof a statement on television the day before the $700 billion bailout bill was passed by Congress.

Bundy said he watched a stock trader interviewed on CNBC commenting about what would happen if the bill failed to pass.

Bundy quoted the trader saying, "Our people have that under control. We won't let it get out of hand."

Some Pahrump residents said they don't have the luxury of a 401(k) retirement account.

"I don't have one. I wish I had that concern," said Jerry Winter, 44, who is self-employed.

Bruce Reeves, 72, said he's retired and living solely off Social Security.

"They're all crooks from the president on down," Reeves said.

Roy de Guzman, 45, who works for Armcor Precision Inc., a Pahrump company, said his employer doesn't offer a 401(k) program.

"We're trying to convince the boss to start up a 401(k)," de Guzman said.

Rosemary Dorsey, 63, said she retired after 25 years working for Pacific Bell in San Francisco and recently qualified for Social Security disability payments.

Dorsey receives a pension from PacBell but said she's concerned over reports from other former employees that, "our company was going to do away with the pension."

"I am not a stock guru but I learn from experience" said Robert Earl at the Nye County Republican office. "I lost a lot of money on Black Monday a few years back, and the reason I lost a lot is because I got scared and sold everything. Right now, my best advice to people is not to open up their portfolio and look at it every day. "You haven't lost any money until you sell. Right now you have only lost on paper. If you are in good solid companies, I believe you will be all right, unless of course you invested in AIG. Ride it out."

"I got out before it took a dive," said Bob Barlow while standing in line at Bank of America. "I am in the mortgage business. A friend of mine in Las Vegas took his out before 9/11 hit. He was just very lucky."

Insurance agency owner Roy Mankins said he's been very lucky, and most of his customers have been, too, because "I have been scared to death of this bubble. I am a conservative investor. I like annuities that have a quality reputation or variable products. They are not going to lose any money. They are not guaranteed to gain, either, but you won't lose all your money.

"I have a number of customers that are approaching retirement age. When the market was somewhere around 11,500 they wondered if they should sell. Now it's at 8,800. They have lost 35 percent of their money. They have to wait now. They can't sell. It's a scary time.

"I got out probably three years ago while the market was still going up, but it just seemed too good to be true. I am not sure it was the smartest move, but we went back into property. Of course, property has tanked, too, but at least it's not going away.

"The whole 401(k) thing is just flawed. You have to keep your money in certain company investments. You can't transfer it out when it needs to come out. It's a really great concept but it is executed really poorly.

"If people are within 10 years of retirement, money needs to go into annuities or index funds with guaranteed returns. They don't pay big money, but they pay.

"People need to look at their options on their 401(k) investments ... Find out all you can about your particular 401(k).

I put the same amount of money every month into the stock market no matter if it's up or down, into equities or things that are really solid.

"If you are 25 years old, this market now doesn't mean much. Just keep putting your money in ... If you are 10 years from retirement, you damn well better take a look at where your money is. If you are one year from retirement, you are out of options. It is done. It's all gone. Stay at work.

"Find a job or activity that fulfills you. If you have enough money to pay your bills, who cares."

These sentiments were echoed among other residents of the valley.

One local woman explained the dilemma that her family faced due to this stagnant economy. As co-owner of a residential construction company with her husband, Allison Salmon said since construction was at a virtual standstill, her husband had to resort to commuting to Las Vegas for employment.

And their paycheck takes a hit of $75 per day in fuel just for the trip.

And now, because of the credit crisis plaguing the nation, people are finding it near impossible to get credit for loans which are, in turn, affecting construction jobs, causing a ripple effect in the community.

What's worse, Salmon stated, is the rate of foreclosures are rising and more and more people are opting to buy a house that may not have all the amenities they want for a brand-new, custom-built home, further deepening the unemployment crisis.

On the flip side, some businesses are faring a little better.

Recently there was a motorcycle event at the Spring Mountain Motorsports Ranch on Highway 160.

Dale Kieffer, 41, the owner of Racer's Edge, a prominent motorcycle repair shop in Las Vegas said his business is "booming," not because people are able to buy new motorcycles but due to the financial strain, they are choosing to repair their present models.

Closer to home, the Artistic Centre dance studio just celebrated its 10th anniversary over the summer. Owner and Executive Director Mary Albin said though she was especially affected by the economic crisis last year, this year business has gotten better. More people have signed up and classes are more full.

Albin said the reason may be that "people are realizing the importance and stability of art forms in children's lives."

In these times of uncertainty, an old adage rings true: "When life gives you lemons, make lemonade -- if you can.

Pet adoption fee increase

Due to the increase in animals at the Nye County Animal Shelter and the expenses in caring for them, the fees will increase.

Beginning Nov. 1, the fees for adopting a dog will be $85 and the fees for adopting a cat or kitten will be $55.

Fees include spay/neuter, vaccination, rabies shot, a bag of food and one-year county license.

Call 751-7020 for more information.

Power wheelchairs

Miracle on Wheels makes available electric power wheelchairs to non-ambulatory senior citizens 65 and older and the permanently disabled of any age, if they qualify.

Electric wheelchairs are provided to those who cannot walk and also cannot operate a manual wheelchair sufficiently or safely enough to care for themselves in their residence.

Call 1-800-749-8778 or visit www.laspanmedical.com for more information.