A time of opportunity for those of steady financial footing

CLARKONOMICS: Sometimes it seems like the economic news is like a parade of bad hits coming at you day after day. The U.S. dollar has fallen against the Yen to levels not seen since last century. Gold has moved over $1K/ounce. Now our government has announced new rules to keep banks and brokerage houses from destroying themselves with weirdo loans and bundled investments. By some accounts, the feds now have pumped in $1 trillion to keep them solvent. Usually when you make a losing bet, you get wiped out -- but not in this case. In order to float these banks, the Federal Reserve has to cheapen the dollar. Clark calls for Washington D.C. to maintain credibility for the U.S. dollar and stop oil prices from spiraling out of control, among other things.

At this time of mass bailouts, there will be great opportunity for individuals and families who have kept their own financial houses in order. There's been so much press on how savers are getting their clocks cleaned. But that angle misses the bigger picture. Look at the 2 largest purchases most Americans ever make -- cars and houses. The car market is flooded with product and deals abound. Chrysler is shutting down the whole company for 2 weeks this summer to synch up supply with demand. In the housing market, the deals on foreclosures are great.

Roughly one-third of Americans have been able to keep things in order. About two-thirds leveraged up and are wheezing financially. If you're in the two-thirds, you need to reduce your debt -- exactly the opposite of what the politicians hope you'll do at least through the November election.