Economic Distress

Apparently the economy (Wall Street to be specific) is going to hell and a hand-basket. After the House failed to pass the $700 billion plan to buy up distressed mortgage securities…all hell broke loose on the trading floor.

If you haven’t heard, the Dow Jones industrials are down nearly seven percent…an almost 780-point decline, the largest one-day drop ever in the index. Isn’t that crazy? It’s completely mind-blowing if you ask me. I wasn’t totally convinced that the billion dollar bailout proposal was the best way to attempt to solve this financial crisis (cuz I mean, come on, look at the loans and debt that the government already has against it…should it really be in charge of loaning out more money…???), but man…talk about a roller coaster day.

Now I’m not even going to comment on the specifics of this, since I’m not sure that I would do it justice…but I would think that all this panic that is being built around this current financial crisis can’t be good. I mean, panic, in general, isn’t a great thing, right? So let’s just all take a deep breath and remember to breathe.