It sounds trite, but it's true: For those of us with decades to go before retiremeent, the drop in stock prices isn't such a big deal. What stocks sell for today has little bearing on what stocks will sell for in 30-40 years when I'll need to sell. Was the stock market in 1969 still crippled by the effects of the crash in 1929? I'm no expert, but it seems to me that it was not.
Johanna
of MD
@
Feb 24, 2009 09:08:53 AM
Are investors scared?
Are investors scared? Is that why they are pulling out of the stock market? Are investors skeptical of the governments solutions being able to fix the problems?
It seems like the market drop is a response to the government solutions and investors are concerned that too many people are abdicating their responsibility for their actions and begging for the government to fix their problem.
My boss has installed a placard in the office that states, "Try a little harder to be a little better." Translated to "Work a little harder for the same pay because we plan to lay people off to offset a anticipated budget shortfall due to the economic melt down." What happenned to success being predicated on hard work? Another fairy tale, like Santa Claus. The reality is "What you wanna do is boom boom" but due to the actions of others beyond our control, what we get is a loud hissing noise as the air rapidly evacuates from the national economic bubble. I say, pour me some bubblies - it always seem to make things better again (until I'm sober).
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Johanna of MD @ Feb 24, 2009 09:08:53 AM
Dan D. of UT @ Feb 23, 2009 20:03:20 PM
Tony Lee of CA @ Feb 23, 2009 19:33:10 PM
Kate of IA @ Feb 23, 2009 19:17:48 PM
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