"History is a wonderful thing, if only it was true"
-Tolstoy

Saturday, October 11, 2008

Perspective

Good perspective

As Dire as the Times May Seem, History Isn't About to Repeat Itself - WSJ.com: "Remember that we've been through tough times before. The Internet bust was almost as extraordinary as the 1929 crash: Between early 2000 and late 2002, the tech-heavy Nasdaq index fell almost 80%. You may recall the speculative real-estate lending that resulted in almost 2,000 bank failures between 1987 and 1991, and the Dow plunging 22.6% in one day in 1987. While none of those were pleasant, you're still here.

Stay the course. You know this, but it's a time to return to the basics. Live within your means. Reduce your debt. Keep saving -- and investing. When the cycle turns, and it will, you'll be glad you did."

No comments: