Released: October 02, 2008

Road map to weather rocky times

Source: Michelle Singletary, Washington Post (Free Registration)

In the 1950 movie “All About Eve,” actress Bette Davis slyly uttered a memorable line: “Fasten your seat belts. It’s going to be a bumpy night.” She might as well have been talking to today’s investors. Except in this case, the bumpiness is probably going to last far longer than just a night.

But I have to say I am not at all afraid of this ride—even after the gargantuan recent drop in the Dow Jones industrial average. I didn’t panic when the House of Representatives failed to pass the proposed $700 billion bailout. The president and some leaders from both political parties are essentially saying that we—the people—are fools for not seeing the wisdom of sinking our country further into debt to free up the credit markets.

At least for individual consumers, I’m not mourning the reduced access to credit. Good. 

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