Stock Fall Watch, Continued
The markets just keep getting scarier.
We’re now at 1999 levels in the stock market, and some are now calling this decade completely lost:
It took eight-and-a-half years for the Dow Jones Industrial Average to march from its first 10000 breakthrough to its peak around 14000, and less than a year to fall below 10000 again. Now, as the mortgage bust has widened into a banking crisis that’s slowing economic activity worldwide, 10000 is once again acting as a ceiling, with several attempts to bust it Tuesday failing.
With so much wealth in our nation being wiped out by the minute (over $2 trillion lost in retirement accounts in the past 15 months), there is no better time to understand your spending and start cutting back rather dramatically. It’s time for us, as a nation and as individuals, to develop some new financial habits.
