Much as I would like to pretend there is no recession, the reality is hitting us all in the face and it can be frightening—if we let it overpower us and our thoughts. I have three dependable sources for my information on how to act during this time and am unselfishly sharing them with you here. The first is a daily blog from the creator of Dilbert, Scott Adams. I have very few blogs on my RSS feed, and his is the top one. If he is not writing eloquently about the economy, then whatever else he has to say is pretty good too! You can find him at http://dilbert.com/blog
My second source is Ellen Powers Le, CFA President of Ascend Capital Management, Inc. (firstname.lastname@example.org). While my last 401K was used to start another business that had a bitter end (see chapter on Business Partnerships and Embezzlement), when my current and very meager 401K is of acceptable size, Ellen is the ONLY person I would trust with my money. Highly educated, experienced and a true financial seer, Ellen is the calming voice in this bumpy storm.
My third source is Doug, who breaks down every rumor, fallacy and misguided missiles of misinformation for me. And he supports his wise words with documented facts. Did you know that during the Great Depression, people were not really jumping out windows on a daily basis. And worse, Winston Churchill and Will Rogers cracked a few jokes, which then became “facts”, and many of us grew up in fear of our financial caretakers flying out windows if it ever happened again. In actuality, there are only two recorded suicides from jumping out windows, although there may have been other ones that looked like accidental death for insurance reasons. For more cheerful information on the topic go to Wall Street Suicides By Nina Shen Rastogi
On the more personal and local side of things, have you, as a MissPoop customer, ever thought about the impact you have on so many people with your $60-$100 monthly fee? When I started MIssPoop, before I allowed myself a frivolous expense, like a Starbucks Mucho Macha Latte Maple Supreme Cappuccino, I would think about how much time hunting down poop this cup of coffee was costing me. It didn’t mean I would not have it, but it brought the flow of income in/income out to the forefront of my budget. Over the years as we have grown in all three areas of the business, I am ever vigilant of how each one of you impacts our bottom line. There are now three people and four dogs who are thriving members of the community because of your choice to use our services. THIS IS A VERY BIG DEAL. Not to mention the vets I use, grocery stores I shop at, dog food suppliers and all the utility services who thank you indirectly. Oh—ok, the GAP and Land’s End appreciate you too! And if not Starbucks, I know Wawa does.
I believe we will come through this time a wiser and happier nation. We may all suffer some nerve-wracking days or months, but we are a country that supported growth and independence and not one to suffer in silence and back away from doing the hard work it takes to thrive happily.
There is also a group you can join to help fight the recession which I whole heartedly highly recommend joining. (http://norecessionforme.us/)