$700,000,000,000 not enough? What’s your view from our rollercoaster?


$700 billion isn’t enough!

    Financial markets around the world imploded yesterday, despite the passage Friday of the Wall Street bailout bill.
    The
Dow Jones fell to below 10,000. We haven’t seen that figure
since October 2004. The U.K. top share index suffered its largest
single-day drop. In fact, all global indexes — Asia Pacific and
Australia, Europe, and the Americas — posted losses.
Even the auction site Ebay announced late Monday that it will lay off 10 percent of its employees.

    I know that I’ve asked you this question more than once, but: Are you worried? Watching the rise and fall of our viewpoints as we go through this crisis is important. So, please — take a moment and share a “Comment” with us even if it’s a very short response to this question about your level of anxiety.

    I take some comfort in Lesson 1 from my Top Ten
list last week
: The stock market is neurotic. We may see
huge recoveries.
    Even so, polls show that consumers are changing
their buying habits, cutting back on discretionary expenses. My
household is doing the same. This is another important question: What’s going on in your household?
    What decisions are you making now because of this news?
    Of course, the economy is a centerpiece in the presidential
campaign. What do you expect in the debate from Nashville tonight? News
reports already are forecasting a fiery clash over the economy. USA
Today is predicting “aggressive attacks.” The Chicago Tribune forecasts
“gloves are off.” What do you want to hear from the candidates? What
would raise your confidence?
    There’s
still humor in all this, of course — we have the Tina Fey send up of
Sarah Palin
to keep us entertained. And Palin keeps adding fodder
to Fey’s comedic routine.

    If only the issues at stake weren’t
so serious.

    Please, click on the “Comment” link above, or if you prefer to drop us a quick Email,
you can do that as well. We’re also still inviting readers to sign up
for a couple of in-depth surveys Dr. Baker plans to conduct a little
later this fall. To take part in that effort, add your Email address to
the box in the upper left area of our Web site.

Print Friendly, PDF & Email