This morning I heard a former Federal Reserve chief and economist provide another dour analysis of our economy, and absolutely no suggestions, no solutions, and little hope for what to do next. That’s not what I call leadership. Even had he said he thought we need to hunker down and work hard, it would be better than another cute joke, or clever quotation. So here’s what I’m going to go out on a limb and suggest, now more than ever, each of us is going to have to reach down deep into our psyches and pull out our Courage with a capital C. We cannot panic or be reactionary as we have been over the last 8 years. We have to start thinking.
The economic situation is not going to change anytime soon for the better. There is too much to straighten out. The markets can’t tell what to do or where things are going. We are going to have to get over being superficial. We can stop it. We can look inside ourselves for our own answers. We can read. Yes, in spite of my criticisms of Dr. Bob McTeer’s talk, I heard some degree of perspective that affirmed much of my own analysis of the crises. McTeer said that fundamentally he is a Libertarian, but today he is in favor of government action, because it is the only sector of the economy that is able to help us out. He was just as horrified by Congress’s actions over the bailout as I was, perhaps more, by the fact that these people we have elected had no idea what they are saying or doing when it comes to the economy. He clarified the challenges Sec. of the Treasury Henry Paulson has faced in dealing with the Congressional earmarks.
He balanced his thoughts on government intervention with the idea that when things turn around the government needs to step back. That’s the hard part, isn’t it? I’ve talked about it over and over again, the razer’s edge of enough versus not enough government. Where is the dynamic balance.
Here’s what you can do:
- Don’t listen to the news. At the very least don’t dwell on it.
- Serve. Serve your clients, the marketplace and your friends and colleagues. If you know someone who is out of a job, go the extra mile to open doors for them. Now is the time to reach out.
- Don’t take your anger and fear out on anyone else, especially with your family. I have heard that the family shelters are filled with battered women from the last several months. If you know of a family where abuse may be going on, step out of your comfort zone and offer resources. If you are angry and frustrated, take a foam bat and beat the hell out of a pillow. Scream at the pillow when no one is around.
- Take a deep breath. Often.
- Read inspiring words several times a day.
- Stretch and walk. Get up and move to get oxygen to your brain.
- Vow to understand who you are sending to Congress. Vote for educated people of character. You don’t know? Find out.
- Character is destiny. What shape is your in?