What will it take to restore faith in the market and in our market-driven economy? Regulation and self-regulation.
Self regulation means developing a new mindset - one closer to the attitude children of the Great Depression grew up with (our parents) - that says if we don't have it, we don't spend it. That's addmittedly tough advice to follow when prices are rising and our income is not. So, do we really have a choice?
Analysts are telling us to have three years of living expenses in a safe vehicle like Treasury-backed money market accounts.
Me thinks I will have to work longer and tighten my belt.
So it goes...
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