The American (some would say the world) economy has a virus as well. This virus won't be done until it has run its course. There are no medicines that can cure it. However there are things that can be done to keep the economy hydrated and to help with the fever and pain associated with it. The government is trying to do that with things like bailouts and injecting money into the system. The people can also help. The first thing we need to do is NOT panic! I don't know about everyone else, but when I'm sick and I panic I tend to make things worse. The same thing happens to the economy if we panic as well. So what can we do to help the virus run its course?
- Live within our means - this is the best thing we can do as it will insure we don't put ourselves into a situation where if the virus worsens there is a major impact to our lives.
- Put money away for a rainy day - We've all heard it before but it bears repeating. Save money now so that if something happens you can take care of it.
- Breathe - We all need to take a deep breath and realize that this is part of an economic cycle.
- Stop pointing fingers - Right now pointing fingers will just raise blood pressure and that can't be good for a sick economy.
The fact of the matter is the economy has contracted a virus and while we can do some things to ease the pain it has to run its course. It's going to hurt, but usually things that are worth it do in the beginning. I believe that the economy will be stronger for having gone through this just as my daughter will be stronger once her virus has "run its course".