With the Fed continually cutting the rate, with most people being sure we’re in a recession, etc, it’s a pretty gloomy outlook.
You know what I think of? I remember that my grandparents all lived through the Great Depression.
It wasn’t ideal, my Grandmommy was the daughter of a widow trying to make it in Ohio, my Granddaddy was put in a boys’ home because his widowed mom (and then step-dad) couldn’t afford to raise him. I don’t know how my other grandparents did, never talked about it with them. Somehow they all made it through.
Then they and my parents lived through the 1970s and stagflation (parents were born in the 1940′s, so they were full adults by then).
The ones who were left survived the dot bomb.
And that’s not as hard as it gets. Somehow billions of people manage to live without the things we consider necessities.
Of course, many of those people die and many suffer…it’s not a perfect world where everyone is secure and safe and happy.
But many do live. Many live for surprisingly long periods of time.
It’s not like having money guarantees you long life and happiness either. Health Ledger had both. Millions of well-off and healthy people die in car accidents long before “their time.” I could easily die tomorrow in a car or metro accident, be murdered, or just die in some freak way like being hit by a live power line.
I’d rather have enough money to live a comfortable life. I’d like not to have to live through or die in another Great Depression. And I can’t predict the economy, this may all blow over in a couple years. People thought the dot bomb might be the end of the economy too.
If I find myself starting to feel panicky about the situation, I think these two things:
1) People manage to live and even thrive in much worse situations than what the US is currently looking at.
2) People who have comfortable lives don’t always live or thrive.
To a degree, therefore, I can control my thriving. And I can do my best to stay alive even if conditions become positively dreadful. Victor Frankl discovered how to take control of his attitude and such in a concentration camp. He wasn’t happy, but he didn’t give up either.
In the end, the worst that can happen is that I die. But as I said above, that’s as possible now as it would be in some horrible future. So in the end that’s not something to fear about recessions either.
Does the economy scare you? How do you address those fears?