Second, I'm going to ask you all to go out and do something that seems counter-intuitive with the current headlines coming from every major news outlet. Hear me out.
Go spend money.
Yes, I'm serious. Go spend. Go to dinner. Buy a sweater. Enjoy a movie. Pay a toll. Get out there and put a little cash into the economy.
Here's the thing: hysteria breeds financial trouble. It's an emotion-driven system. The economy hiccups, we panic and hoard our cash, and the economy falters. We hoard more and start cutting back on things like cable and dinners and sweaters, and less cash hits the big picture. Businesses fail, people lose jobs, welfare spikes, the system can't handle it, reserves are tapped, and boom. Disaster.
I told someone yesterday that I wish people like Donald Trump, T. Boone Pickens, H. Ross Pierot (remember him?), Bill Gates, Warren Buffet, and other mega-wealthy would invite the news crews to follow them to the stock floor and film them buying and buying and buying. Things would boost a little, we (the little people) would get a shot of confidence and optimism watching them throw their money in the ring (buying low, by the way), and maybe we'd be more likely to either invest a little or stop yanking our money out of the system and putting it under our mattresses.
Crisis...just maybe...averted.
I'm asking you no to panic. Don't go crazy, of course. You don't need a luxury car right now. But live your life. Help the economy go. Preserve some jobs. Go out there and spend a reasonable amount, and keep doing that.
And don't touch your 401(k). No matter what.
2 comments:
Preach it. It's amazing how few people really understand how the economy works - either that or they just hope someone else will take care of it. Probably both.
I agree 100%!!!
and if they'd stop showing all that shit, then people wouldn't be freaking out.
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