An absolutely fool-proof way to stress yourself out is by staying glued to the television newscasts about the economy. “Wall Street dropped another 700 points today!” “Here is our panel of experts to tell you why the news is just going to get worse!” “Big Plants, Inc., is laying off another 4,000 employees!”
Oh great. Just what I needed to hear.
That’ll send your blood pressure through the ceiling, no matter your situation, but particularly if you are a heavy investor in stocks.
You’re not? Don’t be too sure, friend. If you have a retirement account with some agency somewhere, you might be one of those (like me!) who is being severely affected by the free-falling stock market. The headline on the front of Friday’s Times-Picayune asked, “How Low Can It Go?”
Frankly, I don’t want to know.
Twenty years ago, when the market did a sort of “correction”–we’ll be generous and call it that–I recall someone asking either Ted Turner or Donald Trump, one of those big boys, “You lost a billion dollars. What do you have to say?”
He answered, “It was a paper loss. I’m not selling anything today. I’ll still be here tomorrow and first thing you know, I’ll have it all back.”
And that’s precisely what happened.
My neighbors, Bill and Sandra, are both retired from long careers in the commercial world, and this is scaring the daylights out of them.
A news report this week indicated that 80 percent of Americans admit the economy is stressing them out.
The funny thing–did I say “funny”?–about this craziness in the economy is that we’re told the actual businesses of America are just fine. What is driving the roller-coasterness of Wall Street is a little thing called fear.