Every Saturday morning at Nate ’n Al of Beverly Hills Delicatessen, a group of older guys gather to gossip and chat about their families, their friends, politics and the economy. This past Saturday, the 1,000-point drop in the Dow Jones industrial average was a hot topic of discussion.
Calm down. Think it over, figure it out. Just because we see confusion and panic out there doesn’t mean we have to sign up. The media focus is on the stock market. If for no other reason than that, don’t pay much attention to the stock market. If it goes nuts in either direction, the authorities have to get involved, but we’re miles from that.