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How does the stock market turmoil affect you?
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On Monday, stocks plunged resulting in the S&P 500′s worst day since December 2008, down more than 6 percent for the day and off more than 17 percent since the index peaked in late April.
Is the current slide in stock prices, the ratings downgrade and weak economic data causing you to:
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I got out before the last crash (only a blind person couldn’t have seen it coming) and have been in mostly cash since then. I am still ahead. After this shakeout, it will be time to make a measured return to the market.
We are still feeling the effects of the causes of the last crash. Governments will not get us out of this. They can only respond in limited ways to a world economy that is deeply fearful of putting itself back into a buying mode. This is going to be a long, slow grind with more swings to come.
I am sure we are better off for the governments having kicked the can down the road, but eventually we will have to pick up that can.