Crash ’08: Should You Be Scared?

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If you’ve been watching the news lately, you might’ve seen something about the economy… but in case you’ve been living in a cave, things are bad. Are we on the verge of another depression? Should you be scared by what you see happening in the stock market?

Let’s take a stroll through history… all the way back to the golden years of the late 80’s. It was a simpler time: disco was a fading memory, 3 Men And A Baby was sweeping the box office, and anything seemed possible. Then came October 19th, 1987, the day the stock market saw it’s largest single day decline in history. 22% of the market was wiped out at once.

Fast forward to the 21st century, take a look at the past 100 years as a whole, and you’ll barely notice a decline on the graph; the market simply recovered as it always has after hard times. So in retrospect, October 20th would’ve been a great day to buy. Why? Because unless you believe the US economy is going to hit 0, it will come back up (eventually).

So should you be scared? Without a doubt, we may be facing hard times ahead, but it’s no reason to panic. Just keep things in perspective, always have a level head, and you might even profit in the long run.

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Comments & discussion

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  • Steve

    Really? Your headline is amazing and I get 3 short paragraphs, a closing sentence? No references to sources other than that VERY helpful link to a stock chart, a ‘fast forward to the future’ and no insight offered other than “chill”?

    Just “Chill” in big blue letters, maybe with New York Times font would have been more profound.

    Did you have something on the stove when you started writing this?

  • Steve

    Really? Your headline is amazing and I get 3 short paragraphs, a closing sentence? No references to sources other than that VERY helpful link to a stock chart, a ‘fast forward to the future’ and no insight offered other than “chill”?

    Just “Chill” in big blue letters, maybe with New York Times font would have been more profound.

    Did you have something on the stove when you started writing this?

  • http://www.moneytalksnews.com/ Dan Schointuch

    Steve… The text is just a companion to the video.

    We work very hard to produce the best personal finance news on television. Unfortunately, this doesn’t leave a lot of time for crafting detailed blogs (but we’re working on it).

    Stay tuned and thanks for watching :)

  • http://www.moneytalksnews.com Dan

    Steve… The text is just a companion to the video.

    We work very hard to produce the best personal finance news on television. Unfortunately, this doesn’t leave a lot of time for crafting detailed blogs (but we’re working on it).

    Stay tuned and thanks for watching :)