I am sharing today a letter to the editor of the Washington Post from this morning’s edition. It rather neatly encompasses my views – namely, let’s get on with doing what we do:
Fearing Fear Itself
The Oct. 23 front-page article “Job Losses Accelerate, Signaling Deeper Distress” used words such as “hemorrhaging” and “long and painful recession.” While factual, I suppose, such reports can become self-fulfilling. Americans should take a breath and think about the “crisis” we are in.
There is no world war, no second Sept. 11, no spate of Hurricane Katrinas, no bird flu epidemic, no drought of biblical proportions, no locusts and certainly no massive slayings of firstborns. This economic crisis is man-made and is spread not through spores or other biological means. It persists because of fear itself, spread by our New Age circulatory system — the media and the Internet. Thus it can be stopped by man. People should be told that it will run its course and that things will then be better.
America is cheap now. It’s a good time to buy, not sell, stocks, homes and cars.
Someone asked me when this will be over. I said that it could be over by next Thursday if someone with credibility just said that it would be over and enough people believed it.
ROBERT J. BRUDNO
Thank you, Mr. Brudno. I don’t think I have the credibility needed, but I certainly agree with you.
Yesterday my younger son, he of the first job and fresh new 401-K, asked me, “This is good for people like me, right? Stock prices are low so that’s good?” I’m not certain of anything except that he has a lifetime ahead of him for his investments to mature, so I encouraged him to press on and keep at it. And, by the way, be sure to buy that first home before June 30 so you get the tax credit.