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October 10, 2008, 12:53 pm PDT
Stay Calm!
Quote From: dr_jhpMost of the show yesterday contained good, common sense ideas. Things people need to do. However, given the high anxiety running rampant in the country right now, a little calmer presentation would have spoken volumes. As Rome wasn't built in a day, this financial mess will take time to work through. I hope cooler heads will prevail. I know Dr. Phil likes to be "up and excited" for the show, but sometimes the best thing people can do is not become anxious in an already anxious system.
Yes, I would like to see some of these CEOs and CFOs tarred and feathered, their money bonuses and severance packages taken away, and then sent off to work in a soup kitchen, but in the meantime, what the country needs is a calm and reflective approach to dealing with the situation. You are so right! We need to stay calm not contribute to the hysteria and panic selling that is making a bad situation worse.
Sure, we all hate to see the government have to step in and sink money into the financial system. But understand, people: if the banks don't have money to lend, even good companies who have done nothing to contribute to the mess will go under, not just the bad. That means YOU might be put out of a job just like the fat cats who helped create the situation. Maddening, but true.
Unfortunately, all the pundits are angling for audience share. And who listens to "be calm?" "Disaster, disaster" draws more viewers.
We all need to make the effort to understand the basics of finance. Then, and only then, will we as individuals make reasonable decisions for our own financial futures and choose leaders who are ready to deal with reality rather than tell us pretty lies. Ultimately, reality will not be fooled.
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