While the news from the stock market may be frightening, there is one bright spot -- the falling price of oil. Today the price of a barrel of oil dropped to under $68. A 50% drop in just 90 days. The price of oil has not been this low since June of 2007. At the same time the price of gas has been dropping -- although not at the same rate. Gas in SE Michigan is selling from $2.50 to $2.90 a gallon for regular -- about the same in mid-2007.

How quickly things change. In July, everyone was talking about the price of gas. It was affecting everyone's thinking and their actions. It affected their travel and weekend plans, their decisions about where to live, their calculations into what sort of vehicle to drive. Very few were talking about the stock market.

Three months later, the situation is reversed. Now, in comparison, gas is pretty cheap. But our thoughts are on how much we have lost in our 401Ks. It is affecting our travel and weekend plans, our decisions about where to live, and whether we believe we can afford to buy a car. Very few are talking about how it now costs $25 to buy 10 gallons of gas, compared to $45 three months ago.