For a little perspective, the Dow is currently trading near 11,200. In May 1930, the Dow closed at 275.07. It finished June 1930 at 226.34. A significant drop, yes. But the end of the world?
No. In fact, If I were a state or local employee trying to figure out if I wanted to lock myself in to hoping bureaucrats and politicians were going to work things out for my retirement, I would be following Rep. Bob Damron's advice and start demanding a defined contribution retirement plan.
