by Denis Campbell

Not likely.

After teasing us into thinking the worst was over in the credit market crisis, the Dow closed today off another 733 points or 8%, just 100 points above the 10-year low water point of October, 2002. Good luck in the debate John. This is about the worst news you could have five hours before…

Hey there was some good news. Still President Bush avoided taking the podium today, something that seems to only cause more precipitous drops.

Hank Paulson’s banker friends are upset at losing their 9-figure bonuses in the bailout. So they said “screw you” to the nation and the market, “you fix it” and retired to the sidelines to pout. Their money is safely salted away, so they’ll wait and buy back in at the bottom to make even more whilst middle class future retirees lost another trillion dollars this month in their 401(k) holdings.

Never get in the way of the super rich at the piggy trough. Money still talks in New York and greed is still good, very good. When doom, gloom and fear are market drivers. The collective consciousness is fixated on losses, so they become manifest. While not saying we should jump onto crosses and whistle from Monty Python’s Life of Brian, “Always look on the bright side of life,” we are getting waaaayyyyy ahead of ourselves.

Your home value only counts when you go to sell it and there ain’t much of that happenin’. Investments only matter when you go to sell them, so don’t. Just take a deep breath and ride the cycle. Looking nervously at your computer screen every 2 minutes will only cause some sort of manic stress related incident in your life. Manny Fernandez was my broker in Miami and every time I’d see him the exchange was always the same.

“How’d the market do today Mannie?

“It fluctuated, Denis.”

Now it’s fluctuating a bit more than usual and… at least it’s still fluctuating. You have permission to worry when it stops, like in Russia.

Things are tough. A lot of people are worried and for that I have but one question, is it helping you to sit and stew in your own juices and worry? Change is coming and digging out will take time as it always does and things are very different now than in 1932.

We have global markets now and the US is about to return to responsible governance. That should make everyone breath easier.

Coming into alignment and balance will take time. I suggest we all re-read Dorret’s article on sustainable growth and economy as that will get us a lot further than worrying if Barclays will unleash more money. They won’t and they will suffer as well. Reduce, reuse, rethink…

While the first places to look for a recession are automobile sales and white goods. When they stop selling, used car sales increase and folks hang on to cars longer… Even if petrol gets back to .75p per litre we’re wiser now.

High street restaurateurs are seeing a 20% drop in business. People are eating and drinking out less. Currency conversion issues creep in as the pound continues to lose value. Christmas sales are everywhere in October and we’re all tightening our belts. We’ve done it before and we’ll do it again.

Just fasten your seatbelt, it’s going to be a turbulent ride and… we’ll get through it. We have to.