I hate fear. Much as I can’t claim any immunity to it, I still hate it.
Thus I am sick to the back teeth of the modern media penchant for raw fear-mongering masquerading as “news”.
Not long ago, various outlets reported predictions of oil running up to $200 a barrel. Didn’t happen, but that doesn’t mean that thinking people didn’t worry.
Following 9/11, I watched my retirement nest eggs, that took many years to build, get nearly halved, scrambled and fried, in a matter of hours and days, not decades.
And by the way, remember, if you lose 50%, it takes a 100% rebound to get back to where you were before the loss (which still isn’t as good as where you might have been if the original loss hadn’t occured in the first place).
Put in simple terms, losing 50% of $10. leaves you with $5. To get back to $10., that $5. now has to increase by 100% (not to mention the fact that had the shrinkage not occured you might have been at $12. or $13.).
So now there are tons of terror inducing quotes and assessments liberally laced across the net. Words and phrases like Long Recession and Great Depression are prominently placed in the daily lexicon.
Fine. So be it. But, as serious as our current dilemma is, and it is, I for one am detaching from the panicked market watch and focussing more on the stable and priceless value of my family, my faith and my friends.
I can’t say I am not concerned, for myself and others. I am. But, for some reason, I am not afraid.
Since 9/11, and UBL, and the dot.com bust, and Enron, and Katrina, I think I am all “feared out”.
Hopefully those in power can soundly secure our economy.
Regardless, let’s face what is, get to work dealing with it, learn from it, and be better off for it.