Here are the messages that came in through CNN today. Short and very to the point.
Sent: Sep. 29, 2008 1:48 p.m. - Dow Industrials fall more than 600 on fears bailout package vote will fail.
Sent: Sep. 29, 2008 2:30 p.m. - $700 billion bailout bill fails in House. Dow down by nearly 600 points.
Sent: Sep. 29, 2008 4:43 p.m. - Dow suffers biggest point drop in history, falling nearly 778 points in reaction to House vote rejecting economic rescue.
I don't know what the right answer is to resolve the crisis. I just know that I'm a big spender and...a very big saver. Strange combination. But, in this situation it's almost like I'm being burned for being such a good saver. So, I'm not sure what to do. Help - Craig, where are you?
Do I keep contributing to the 401k? Should I scale back? It's good to buy low, right? But, what if low means it is going to zero soon? Do I scale down the contributions and pay off debt? When should I get back in?
Alas, it's a difficult time. Even the guys on Fast Money don't know whether to buy or sell. The reason they give - the rules are changing and still haven't been re-established and so ...if the standard is floating how does someone make a decision? They do have a point.
All stress aside, I'm glad I have some food storage, I'm glad I have a very stable job (if I lose mine that would mean the country is in REALLY bad shape) and I'm glad I have friends. That doesn't solve all problems, but it at least provides a little peace.
No comments:
Post a Comment