Banks failed. Rich men became publicly agitated, demanding protection. Regulators stepped in to try to stop the panic. Markets wobbled anyway.
And now we everyday actors in the economy are supposed to do what, exactly?
It’s not a rhetorical question. Too many people default toward immediate action in the face of what seems like a threat. Change banks. Buy gold. Sell everything (or something, at least).
If you’ve embraced inaction in this turbulent moment, however, you may have it right. Ask yourself these questions: What has actually changed about the world in the past week? And how have your own financial goals changed?
The answer to that second question is probably “not at all.” The answer to the first is this: Only a few things have changed, at least so far. But none of them are cause for most people to rethink their goals — or pursue any drastic action in pursuit of them in the coming days.
