A Blessing in Disguise

After years of perhaps, living beyond our means it is interesting to see that Americans are now beginning to cut back on their spending, paying off their debt, and putting a little more away in savings. This prompts the thought that maybe this economic meltdown is a blessing in disguise.

According to a study the average American is saving 20% more then just one month ago. In addition the amount of money people used to pay down credit card debt rose 6%. Financial responsibility, hopefully a trend that will be around for a while.

the Dow Dips Below 10,000

The credit crunch continues to be a big issue as the Dow drops below 10,000 for the first time in four years, and the problem isn't just as home. It is now having a greater effect on foreign markets as European Governments have begun bailing out their failing financial markets.

The Federal bailout seems to be a double edged sword for Wall Street as stocks faultered before and after the bailout plan was approved, now many on wall street are uncertain if the bailout plan will help them at all.