STOCK MARKET CRASHES... SO WHAT?

Last night, I sat in awe in front of the television. I was watching CNBC. They were showing two views: one was of the US Congress voting on the $700 billion bailout, and the other on the New York Stock Exchange. As it became clear that the bill wasn't going to pass, I saw all graphs of major stock indices plummet down. As trading on Wall Street came to a close, the US Markets lost more than $1 trillion. Wow. 

Looking back at commentaries made last night on why the US Congress didn't pass the bailout legislation, it became clear to me how politics of one country can affect the rest of the countries in the planet. Everywhere you go, politicians are actually after the same thing. What will keep them seated in power. That scene played out in Washington seems strikingly familiar as in Batasanwhen they voted for (one of many) impeachment proceedings against President Arroyo.

Fast forward now to 12 hours after. How will it affect me? How will it affect all of us? Should we start rushing to the bank and getting all our money out? What will we do with it then? Hide it under our pillows? And should we now start looking for another job? Are our current employers secure?

There's too many things going on now. Too many uncertainties. I've heard stories about what happened to this company several years ago, when they were faced with so many problems and that the people wonder every morning if they still had a job by the end of the day. But in the end, what can we do about it? Everything seems beyond our control now. 

At the rate the world economy is going, lahat tayo pupulutin na lang sa kangkungan.