Well, the DOW is tanking today –
Why should you care? Some say you shouldn’t care because the Dow Jones Industriual is no longer important – they say that the S&P is a much better indicator of the current state of the market, and that the Dow is not representative of the economy or of the average investor’s portfolios. If so, that says something about the US – perhaps we really have stopped making things, and now only buy things and sell things?
Others say that we shouldn’t care about the Dow’s fluctuations because, over the long haul, it’s going to go up. No matter what, over any long period of time, the Dow goes up.
But perhaps the best reason for me to not watch the Dow is this (from 6 Matthew):
I take a lot of thought for the morrow, because I hope to retire someday. But that’s exactly the problem, isn’t it? The reason that I’m busy thinking about tomorrow is because I have an agenda. “A goal is a premeditated resentment; a schedule is a resentment with a deadline.” I’m busy laying up treasures for myself because I am lazy and don’t want to keep working.
Also, from time to time I find that I am resentful that I’ve had to pay into Social Security all of these years, so that the current crop of old folks can sit on their patushkas, but there won’t be any of that around for me – I got taken in the biggest pyramid scheme ever foisted on any group of people, and nobody is going to lock the perpetrators up; instead, they’ll get monthly checks.
If I could go ahead and accept that I’ve been taken, and that I’m gonna have to keep working until I die, I could probably drop all of this silliness. Unfortunately, I’m married, and my wife doesn’t want to keep working, either, so I assume that it’s my responsibility to make sure that she doesn’t have to do so, and that we can “spend a comfortable and secure retirement together” (copyright from just about any advertising copy for any investment firm or annuity company on the market).
Maybe the best course of mental action is that I can go ahead and plan on my working until I’m dead, while Ethel sits on her patushka🙂 That makes things a lot easier!