Tips from Frank Kaiser in times of a downward economic spiral

March 29, 2008
From Suddenly Senior
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WHAT YOU CAN DO NOW

1. Don't believe everything our government tells you. Just two days before the fifth largest US investment bank, Bear Sterns, collapsed requiring a $29 billion guarantee from the Federal Reserve, the Securities and Exchange Commission declared the company sound.

2. Make certain that the federal government insures your savings. And while your broker insists the stock market is the best place for your money, with today's volatility and the knowledge that, on average, the stock market has performed worse than Treasury bonds for the past nine years, you might sleep better getting out of the stock market for now.

3. Make yourself as debt free as possible, especially high-interest credit card debt. And pray.