Economic crisis is bad ride

Published 11:56 am Monday, October 13, 2008

By Staff
If you watch a little too much of one of the 24-hour news networks, your perspective on the economic crisis might be skewed.
Watching the Dow Jones industrial average swing wildly throughout the day and then sink to new lows before closing is a roller coaster ride that isn't any fun. Listening to the campaigns attack each other rather than come up with solutions for our current situation only adds fuel to the fire, without being constructive.
What we need right now is calm, focused leadership.
We all know that we have been affected by the economic crisis. Our gas prices are higher - although they've been dropping in recent days. The cost of just about everything else seems higher, and we don't see an end in sight.
But in our small community in south Alabama, we have not experienced the level of economic crisis that is gripping much of the nation - or, at least, the talking heads on TV.
We are in serious times, to be sure. Many of us have seen retirement investments and college loan funds depleted before our eyes, and the cost of living has affected our homes and businesses.
But our banks are safe. Unemployment, compared to other areas of the country, remains stable. We even have new jobs coming to our region, with Walmart Supercenter in Brewton, ThyssenKrupp in Mobile County and a new hotel and gaming development in Atmore.
The Supercenter here in Brewton will likely bring new shoppers to our community - and keep shoppers here at home - so we will see our city's coffers increase.
While the credit crisis is severe and Wall Street's volatility is frightening, now is not the time for panic. It is time for common sense. Consider your financial choices carefully, rather than make rash decisions. Shore up your household budget - shop at home instead of making unnecessary trips out of town; pay down debt; save money.
We have been through crises like this before and emerged stronger than ever.

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