Ever since the “financial crisis” erupted days ago (seems like months), I must admit that I have been afraid to look at my meager portfolio to find out how much more meager it is.
I feel like an ostrich-and while the sand around my head feels warm, I am getting chills by the minute over the impending collapse of our markets. I can’t even look at the balances! Why? Because I have NO CLUE what to do.
Do I cash out? Some people have-and already regret it…if stocks recover (they have to, don’t they?) I’ll be OK…that’s pretty much all anyone talks about. We decry the antics on Wall Street, but also harbor nightmares of having our credit cards turned down at the store. College loans denied. Home equity? You must be kidding.
The Congress lived up to it’s 10% approval rating yesterday-and we lost a TRILLION dollars of value in the stock market—less than the cost of a bailout. Was/is the bailout the correct strategy?
Who knows? Could someone-anyone with a clue take charge and—without the politics of an election or the motivation to cover their….uh…rears…please stand out and give us the straight dope? Have we heard the straight talk from Secretary Paulsen –and just decided to ignore it?
Look up the Representatives in your state who voted for or against the measure—and then measure them by the eventual results from the markets. It’s one thing for politicians to take money from us in the form of taxes…but to allow them to stand by idly while our personal wealth evaporates is another matter…a criminal one!
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