People are panicking about the economy. Like a bunch of cattle. Stampeding across the prairie until they exhaust themselves. Yes, there were thousands of bad housing loans made by banks. Yes, the price of oil is up (OK, way up). Suddenly the economy is the BIG issue not the war in the Middle East. And there is nothing any of can really do about it. The war, the oil or the bad loans. So what do we do? We panic and in our spare time participate in a run on our respective banks.
We learned very little from the Vietnam War. One generation and we already have ourselves entangled in a no win war in the Middle East which by the way is absolutely one of the worst places to be conducting this sort of operation.
We learned almost nothing from the gas crisis of the 1970's. Instead of reducing our dependency our Middle Eastern Oil, we decided (somehow) that answer was to go one a SUV binge.
We learned very little from the Dot Com bust of the 2001-2002. It was bad. Really bad. Like base jumping with no chute. We panicked that time around too. Putting good money into bad investments. That time it was companies with no there there. This times it was banks making zero down loans (HOW STUPID WAS THAT).
But we can't change any of this. But we can panic so that is what we do.
It has not occurred to us to simply stop watching the panic mongering news on TV, in the paper and on the web. Time for a news fast. I am not talking about sticking our heads in the ground. Make sure your investment are OK if you must and then turn your attention to something else.
Over time we'll all settle down and find some other stupid thing to occupy our minds. I mean we haven't invaded Iran and Syria yet (RIGHT). There is still time.
Or we could just cut our dependence on foreign oil.
Wow, what a concept.