I heard a very interesting story about the ongoing battle in Washington and Wall Street this morning. Many prominent economists don’t think there IS a crisis… at least not one worth throwing $700 billion at. Listen to the story here.
Likewise, at my networking meeting this morning, the financial advisor of the group, Timothy Yee of Cathedral Financial posited that we have seen this situation all before. In Timothy’s opinion, the Savings and Loan crisis of the 90s, the dot bomb explosion of the 00s, are just typical cycles that seem to repeat every so often. Corporate greed reaches a pinnacle, and something has to give.
Food for thought.
1 response so far ↓
Timothy Yee // October 2, 2008 at 2:40 am |
Doug offers excellent insight here. I would only add that unless you are directly affected by the current meltdown, don’t panic. Diversify inside and outside of the market. Hire a financial planner if you need advice. Going it alone can be costly.
By the by, let me just take a moment to say what a heck of a realtor Doug is. I asked him to help a client and did he ever! This guy is one gem!