What Are You Afraid Of?

by Jeffrey Fanger

The news is grim. But before you sell that stock portfolio and start hoarding gold coins and canned meat, take a few minutes to think about your true economic condition.

How much monthly household income have you really lost?
How much previously available credit has your bank or credit card company actually rescinded?
What hard assets have you lost?

I’m not talking about what you could lose if… or about losses that aren’t realized yet (such as the value of your investments that are just being held). Look at the money you lived on day-to-day, the credit you used on a regular basis, and the things you need in your daily life.