I’ve never been the sort of person who thought problems would just go away if I ignore them, but I’m starting to think a crucial ingredient that we MUST get a hold on to lick this current economic recession is plain old optimism. We need optimism in large doses to lift up consumer attitudes and financial attitudes and to get rid of all the panic!
What’s the solution to that? Can we really make things better by simply chanting something like, “I think I can, I think I can …” until that turns into “I know I can, I know I can …”? Can we drive out the fears and uncertainties causing panic simply by handing out more promotional products to customers of our stores and banks?
Obviously, attitude alone or attitude combined with good PR, isn’t going to do the trick. But it sure as heck could be part of the solution. Something around $1 Trillion so far in bailouts and investments by Uncle Sam haven’t worked yet, have they??
I mentioned in a different blog that FDR was probably onto something important in his first inaugural address with that famous statement, “The only thing we have to fear is fear itself.” My investor friends and investor family members all tell me the major problem with these insane swings in the stock market can be summed up in one word: “PANIC.” So maybe we ought to be more optimistic and less fearful. Taking a couple of steps back and a “time out” from all the economic gloom and doom can’t hurt, can it??