21% down in 10 days, election taking a backseat
More turmoil in the markets, it’s becoming like a bad dream, the US market takes a hit, and then at 9:00pm the Asian markets take a hit, and then the European markets take a hit in time for the US again. Something like 21% drop in the DOW over the last 10 days, despite the talk of this not being a crash, it’s looking pretty ugly.
Hoping that my own situation is secure enough, I was lucky to have diversify some of my holdings a little over a year ago, which helped dodge the bullet a bit, but with the losses on the remainder, especially in the past month, it still took a pretty big hit. Problem is that there really isn’t anything that seems secure anymore. People in passing have been joking about stuffing cash under the mattresses with all of the banks being in trouble, I hope it doesn’t come down to that.
All of this has been a big distraction from the election, especially since it seems like neither leading candidates are offering anything by means of a realistic solution. I suspect that neither of their campaigns anticipated any of this to blow up in their faces, especially not right before November. I still maintain that some understanding of finances and economics should be a quality that we look for in a presidential candidate. Whoever wins will have his work cut out for him, that’s for sure.