It’s Not Over Yet
Spencer, to reply to your plaintive query, I’d say it’s clear the traders on Wall Street share your sense of confusion, based on the ups and downs of the
Jul 31, 202061.5K Shares1.8M Views
Spencer, to reply to your plaintive query, I’d say it’s clear the traders on Wall Street share your sense of confusion, based on theups and downsof the markets today. And, of course, on days like this, it always bears repeating that we’re all supposed to be in the market for the long haul and we should ignore these spurts of volatility, no matter how global and unsettling. You can either spend the day frantically checking on market swings and blog analyses or go for the denial route and figure you’ll catch up on it when it’s over.
Only it’s not really going to be over. Even if the market settles down, there still are so many problems in the economy that have yet to fully play out that it’s almost hard to choose where to place your anxiety.
So, Spencer, I offer you this. Let others sweat out the meaning of the stock market’s swings, and ponder instead this looming crisis, explained by Robert Lawless, a University of Illinois law professor and credit expert:
“„I’m worried about the soundness of the credit card pools that have been sold to investors. It’s a very similar system to what we have for the mortgage loan pools, and we all saw how well that worked.
I’m not sure I helped much, but maybe it takes your mind off the market for a while. In the meantime, maybe you should order Turbo Tax!?
Paula M. Graham
Reviewer
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