Panic can lead to a self-fulfilling prophecy. This crisis, like any other, begs for steely nerve and cool analysis. First of all, the only businesses in danger are those that have overextended themselves and need a credit infusion. The credit economy is the root of most of the problem here as it was founded on phantom growth and bolstered by the phony accounting typical of the Clinton administration and their pals at Enron.

I have been skeptical of the housing bubble and got out before things started sliding south. Now I have a little bit of cash and am looking for the bargains as all the idiots unload out of fear. I was TDY at the wrong time or I'd have bought Bank of America when they were below 20 -- they're sitting over 30 now despite a 6 pt drop today and their dividend is still worth a 7% yield. Duke Energy is still yielding a 4% return just off the dividend alone.

The Dems and press created and worsened a slight recession in 1992, one Billy Boy called the worst economy in 60 years even though it had already started the recovery before the election. President George H.W. Bush was mocked for advising people to stay the course -- but he was right. His son isn't using those fateful words but the advice would still hold true.