"It's the economy, stupid!"

Yeah, it really is this time. Many of us haven't had a real change to the way we live that just a little tightening up can't handle, but retirement accounts and other stock and bond accounts got hit pretty hard.

What is that to real life? Nothing at this point for most of us. If your retirement plan lost money, it doesn't stop you from eating this week. In all probability, it won't stop you from eating any time in the future, either.

What might cause a real problem is if many of us panic and start selling off stocks or closing out retirement accounts altogether. That was a key problem at the beginning of the "Great Depression," and it's what caused the big drop in the market just a few days ago. Not that "we" sold, but the big players did. When they panic, the market stumbles. That should give you an idea of what happens when people all across the nation try to do the same.

Remember the mantra, "Don't be a part of the problem; be a part of the solution"?

The solution, regardless of our personal beliefs about who is at fault or what to do about it, is to hang in there. Wait.

If it's going to happen, it's going to affect all of us, and it won't matter how much money is stuffed under your mattress, you're going to suffer, too.

There are checks and balances in force right now that weren't there when the Great Depression came along. Hopefully, we've learned from the past so that we're not doomed to repeat it.

Disclaimer: I am NOT making a prediction.