Financial Crisis

I have never paid much attention to the stock market. I have always thought that stocks were boring and they didn't affect me very much. What has happened in the last week has been a little scary and has caught my attention. I have been watching CNBC for the past week. On this channel they have a constant ticker at the bottom of the screen. This ticker shows the prices of stock for major publicly traded companies and it also tells you how much it has either increased or decreased for the day. Almost every stock that they show on this ticker is in the red (decreased for the day). The DOW Jones Industrial Average has dropped from 10,831 on October 1, 2008 to 8,579 on October 9, 2008. That is more than 20%! Also, today GM shares fell to its lowest level since 1950! All of this sounds crazy, but I think eventually things will work out fine. I don't think it would be possible for our country to go into another depression. I do think that this financial crisis will have an effect on the job market which might eventually affect me a little bit. In the long run though I think everything will be fine. One thing good happening right now is crude oil has fallen about 40% to $84.67 per barrel since its record price set on July 11 at $147.27 per barrel. I personally believe that crude oil rising so fast over the summer was the cause for our economic crisis. Many questions have risen about what should be done about this financial crisis. Although I don't know a lot about how our economy works, I think the best thing to do is to do nothing and ride it out.