Crapping the Bed

Being thoroughly confused to just what in the hell is going on with all this financial meltdown crisis and watching the Stock Market drop 1,000 points in just a couple I've been trying to read a whole hell of a lot and try and figure out to what extent my family will be affected.

By all accounts, with the exception of the 401K, HSA's, and IRA's we have, we should be ok going through this. We only are in debt the cost of our mortgage (which is only 30% of the orignal mortgage cost, so even if our house has lost value, our loss what be percentage points), and in addition to the 10% of pre-tax money we put into 401K's, HSA's, and IRA's we always aim to save an additional 10% of take home pay. No Credit Card debt, School Bills, or Car Payments. So, we are not overborrowed or in heavy debt but we'll need to still do some buckling down if we want to keep on saving. I am pretty convinced, as of now, this is great chance to Buy-Low, extremely Low.

ANYWAY, here are a slew of articles, commentary, and blogs on the situation for you to read if you want. They have helped me to really understand what in the hell is going on.

• Maybe the best and clearest explanation from the WSJ "No end in Sight"
• Doctor Doom from Forbes
• Time Magazine weighing in (with a very lengthy piece) to let you know how massive this perfect storm is.
• From the BBC, which is basically saying see you later to the Clinton Democrats (don't let the door hit you on the way out) and this modern anti-fiscal conservative Republican Party (good riddance!!!)
• And, from the Atlantic it's not all George W's fault.......
• it's ours as Deneen (some good Perotesque charts and graphs) and Larison say (this is succint, to the point, and brilliant)

Please make sure your seatbelts are buckled, your trays are in their upright and locked position and you have a snickers bar (or two) - we're going to be here awhile.