March 5, 2007
Last week’s stock market plunge is a reminder of a number of things. First, markets can be volatile, but those who invest wisely for the long haul almost always see their money earn money. That’s why balanced mutual fund portfolios have historically done so well.
Second, the market was long overdue for a correction and you have to observe not where it is today, but where it was, say, five or ten years ago. The gains are impressive and most people who invest are making money.
Third, the media look for anything that might reflect negatively on the bush administration and if the market had not bounced back the next day, there would have been more stories about unsound policies and failure.
Fourth is a reminder from scripture: do not store up your treasures on earth where moth and rust corrupt and thieves can break through and steal, but in heaven. That doesn’t mean you shouldn’t invest wisely and take care of yourself and your family. It means you shouldn’t put your faith in riches.
Cal Thomas is a nationally syndicated columnist based in Washington, D.C.