Special Report - The deep breath before the plunge: What you need to read, what you want to know
Our regular contributors offer good reads regarding the Financial Meltdown.
from Ron Daly:
"Frankly, there's no better way to put this than CNN did in this explanatory article (Click Here). It shows causes, thoughts, solutions and suggestions that we as homeowners, workers, families and people with credit need to consider. It's 9 pages worth of very sharp, very smart information."
from Greg Crandell
"There are few things right now that concern me more than mortgages...the (Wall Street) Journal just reported one in six homes is "under water" - meaning the mortgage is more than the home is worth now (Click Here)."
Shoot First, Ask No Questions, Offer Blind Opinion
by Ron Daly
Well, it's official: the economy stinks.
Not that anyone with half a brain (or considerably less) couldn't see it coming. But things get really rocky when the Dow starts to plummet and the banks all fail and the government offers a "Sweetened Bail-Out" package...you get the idea.
But then some of my employees were chatting and had heard that, throughout the web, things were looking grim. There was this story from CNN which is terribly depressing - and with the word "depressing" comes the word "depression".
Yes, depression. As in The Great Depression. As in "Brother, Can You Spare a Dime?" depression. Which 60% of Americans think we're facing. And that means 60% are overreacting.
You might not agree with me. You might think we're doomed. But the Wall Street Journal doesn't think so...which is to say the Nobel Laureate who authored this article doesn't think so. The LA Times seems to argue that depressions in economics are inevitable, but another "Great Depression" is highly unlikely. People in Congress and in the Media have been yelping about depressions and recessions and bailouts and the plummeting market and that's got you worried. You should be worried, but you shouldn't be terrified. You should be ACTING on good information given to you by informed market professionals. Don't sell everything you own. Don't give away all your possessions and run off into the desert. Just think carefully and don't get overwhelmed by people telling you we're all doomed.
