I don't know that much about the economy, never having invested in the stock market. But after listening to pundits (both for and against the bailout), I wonder if we're headed for another Great Depression.
My parents married during the Depression of the 1930s. My grandparents talked about it. My parents, uncles and aunts talked about it. They were all glad when it was over and all spoke of FDR as some kind of savior.
When my brother-in-law's aunt died, I helped clean out her house, the house she'd lived in since before the Depression. We found $4000 in her freezer wrapped in aluminum foil and labeled "Bacon". When we moved the furniture, we found lumps under the carpet which turned out to be wads of 100 dollar bills. Obviously, Aunt Bert worried about another bank failure. In her basement, we found piles of flattened cereal boxes tied up with strings. What was she saving those for? During the Depression, there were paper and cardboard shortages. Wow. I'd never think to save cereal boxes.
In light of current events, it makes me wonder what I should be saving. . . besides the obvious food storage and emergency items. We don't have even those nor do we have a rainy day savings account. Yikes, are we in trouble!?
I'm certain that my trip to London at the end of the month is frivolous and that the money could be spent on more important things. However, you only live once and my once may not last too many more years. I may not get another chance.
I hope I don't regret it next year.