That is what is being talked about by House Speaker Nancy Pelosi. Who knows? With all the stimulus packages we’ve seen lately and with the bailout on Wall Street, I think the politicians have lost their minds. They think they can fix anything by throwing money at it. It is simply a market correction that will pass. Whether we get a new stimulus or not, the markets will come back.
I hear the amount being proposed now is about 150 Billion Dollars. That would be about the same amount as the stimulus in the spring where many families got 1200 – 1500 dollars. They are saying it would happen after the election. I guess we will see if this happens. I will post anything I hear about it, you can be sure of that.
I really am beginning to think there are no “financial experts” in Washington any more. I am sure if the politicians got out of the way, we could ride this downturn out and come back stronger than ever.
Dave Ramsey was talking the other night about the history of these market downturns and he said that since 1973, every time the market fell by 10% in a short period of time, it recovered within 2 years. It will recover again. Just hang in there and don’t do something stupid, like selling out your 401k. Your Roth IRA is going to be fine, in fact if you have any cash, now is a good time to put some more in a Roth IRA.