I did not watch the financial news unfold yesterday, though I did catch glimpses of the downward spiral. By now, anyone with a 401k or IRA account has been affected by the global economic turmoil.
Am I hiding under a rock by not listening to the financial news every minute of the day? Will the 700 Billion package save us all? I very much doubt it, though it will probably soften the blow and delay the inevitable. Long term, we still have the same problem, and depending on how the 700 Billion is put to use, we may or may not end up in deeper waters.
Personally, I think the only way we can get out of this mess is to educate the mass population. If everyone made financially sound educated decisions we may be able to prevent a total meltdown. I know this would be a long and winding road, but all good things come to those who wait.
The financial waters are very murky right now, are you doing anything about your portfolio? Is it time to buy the bottom? Are you selling your portfolio? What do you think about the Bailout? How would you propose to fix the economy?