Credit crisis is not over

Warren Buffett warned yesterday that the credit crisis is far from over. I'll tend to believe him. American Express recently noted that late payments increased in April, while in past years it normally shrank. So more and more people are starting to rely on their credit cards. This isn't going to be an easy fall.

Yet, I'm still looking for bargain stocks that can weather the storm over the next 5-10 years. I'm holding, and I'm BUYING MORE in this market. American Express is now on my watchlist, since I missed the boat with Visa. I remember putting a limit order for $45 on Visa. It never got close.

We're going to try living on my paycheck, and my wife will simply sock her paychecks all into savings...or more investments. We'll see. With our rent going up, we're going to be stretched thin on my take-home money alone. I'm sure we'll be dipping into her paycheck once in a while, but I'll definitely try not to.