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Wow. Today was scary. Yesterday we Frank wrote an article about how the economy is in such a state of decline that its like being in a time machine. Well today we went even further back.
To have front row seats in Washington, watching legislators like we have, and red numbers flying all over the place has really set a somber tone. Not only in our office, or at MYM, but across the country. Maybe somber is the wrong word…more like horror. The only word I can think of that best describes our current situation is: unprecedented. While it may be a Chinese curse but when they said “May you live during interesting times…“ Yikes.
The good news is that a very great number of us are in a position to be positive, move forward and even gain from this. The FDIC has increased its insurance limits, the bailout, excuse me, the “Rescue Plan,” has been passed and the market is generating a very unique buying opportunity. Lets take a look at what some of the finance authors from around the web have to say…
- MiB Smarter Money: Debunking The 25 Most Outrageous Money Myths
- Bible Money Matters: Is Your 401(k) Losing Moeny? DON’T PANIC!!!
- Prime Time Money: Proof that Going “Cash Only” Works
- Free From Broke: Best Financial Advice You’ve Received
- Sense to Save: More ‘Middle Class’ Folks Shopping At Thrift Stores
- Remodeling This Life: Financial Advice for Your Twenties
Have you ever started your own topic on a discussion board? Give it a shot!
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Comments
Yea I think we are in for some more plummeting and its actually a good thing i guess. Being younger, relative to retirees, we have a huge opportunity to buy at a huge discount. Frank says the market precedes the economy by 2 months. I think its more like 6 but who knows.
Worse things could have happened I think. Gloom, doom, etc… it happens in a lifetime. Name a generation in the last 100 years that hasn’t seen some aspect of it. 
There will always be bumps in the road, you just need to keep a steady course!
There’s a lot of gloom and doom but I think we’ll come out of this. I mean we have to! Most major drops in the market have been followed by huge bull runs. Times may be tough for a while but it will build back again!