The New York Times reports this morning that stocks have now plummeted so far that they reached their permissible limits, and that data on the world’s (not just the U.S. ) economy is pointing to a profound slowdown.
Most agree that big changes are ahead. I assume the fabric of our lives will change a lot, and change tends to be scary. My post this morning is a short statement of encouragement: let’s accept that change is happening, and not give in to fear.
Think of all the changes we have been through in our lives, both personally and as a nation, and of all the fear we had about those changes. The fear never helped us do what we need to do, which on any given day would be accepting the facts of a situation, doing proactive problem-solving, and thinking on our feet about the next, best steps we can take.
My personal view is that as a nation we will have to start spending and consuming much less than we’ve become accustomed to. While lowered consumption is tragic for people who have already been struggling to survive, it is not tragic for people with middle-class incomes and above (i.e. me and probably most people reading this on the Internet).
While change is hard, it is certainly not always tragic, and acceptance of it, even embracing it when possible, is more constructive than fearing it. I’ll be returning to this topic in the future, and as always, I welcome comments and differing views.