According to Senator Bernie Sanders (D-Vermont) who was interviewed on the Thom Hartman Radio Show on Air America (9/26), during the Bush administration 400 of the richest Americans increased this wealth by a total of $670 Billion. That’s an astounding concentration of wealth.

The news is not all good for the uber-rich because the value of their assets are decreasing during the current economic crisis. But their lifestyles probably won’t be affected.

The people most affected by the market downturn are apparently those who are retired or nearing retirement who depend on their market holdings as a base for their reitrement income. Some have to go back to work, others who don’t have that option, are scared and struggling.

There’s no way of knowing if the rescue package is going to stabalize the market or not. Clearly traders are jittery. And because the financial crisis is global, no one can predict the eventual outcome.

I heard a quote yesterday (don’t know who said it)–Everything is going to be ok in the end, and if it’s not ok then it’s not the end.  We’ve got a long way to go until the end.

In the meantime, we can’t wait for someone to save us. It’s up to us to educate ourselves about the financial world and develop stellar financial management skills. Doing this can help us straighten out our own finances and make rational financial decisions for ourselves.

If, Instead of giving into the fear you take action, you can find your own way out of your fianncial mess, if you have one. Count your money, don’t use credit, create a rational spending plan, cut back on non-essentials, work with othes to find local solutions.

Personally, I think that it is important, at this time, to get beyond the fear and spend time being still so you can let your intuition be your guide. Times are tough for many, and we all have the opportunity to come out of this stronger, wiser, and much better at managing our finances.

It’s also crucial that you understand the economic policies of the presidential candidates. Find out who their economic advisors are and what they believe are the solutions. It’s the advisors who will affect the judgement of the person who is going to be in charge. Paul Krugman has an excellent column on this topic.