So, the markets are down and everything on the news is gloom and doom.
The U.S. National Debt is $10 trillion.
U.S. corporations are who knows how much in debt, at least $700 billion, a lot more I'm sure.
And U.S. consumers are in so much debt ($2.5 trillion NOT including mortgages) that they can't keep up with their homes, their cars, or their lifestyles. They are in SO much debt that borrowing is actually down for the first time since 1998. What a novel concept - if you can't afford it, don't buy it.
There are two things we try to do, and although we aren't perfect, I think the world would do some good to follow the same counsel.
Live within your means.
Stay out of unnecessary debt.
Two simple rules. Common sense, right? Obviously it is not that common anymore.