To paraphrase Rudyard Kipling, if you can keep your head when all around you are losing theirs – perhaps you don’t understand the situation. Some will say incorrectly there is a PANIC on Wall Street. After all what would you call a thousand point drop preceded by the two worst days since 2008. Unfortunately, if you did call it a panic you would be WRONG.
The flow goes like this: CONCERN, WORRY, FEAR, PANIC. Each part has a role and cannot be skipped, thus we don’t go directly to PANIC. If pushed to the wall almost all will say, we however are the exception, that “this too will pass”, “a buying opportunity”, “its different this time”, “stay the course” and “the FED has my back”. Which means we have only begun the flow.
Of course most have a degree of concern. Some, even a touch of worry. The average American will go about his or her business with only a glancing thought for a day or two about the craziness on Wall Street.
PANIC? A definite headline grabber but not yet a reality. Make no mistake it is coming but next up WORRY then FEAR.
Knowing all this you will be ahead not immune from what will happen next. To learn more stay tuned.
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