The Ripple Effect of Fear & Powerlessness

Some of us have over-extended ourselves, while many are just plain victims of the collective bad decisions of others and a government focused more on doctrinaire non-regulation than any semblance of common sense. Being a victim can only take you so far. There are steps that each one of us can take. Where do you fit?

Borderlines: Where there is a judgment call as to whether to make a decision to contract or eliminate an economic benefit to an individual homeowner or group of employees, err in the direction of preserving the most you can. If things get worse, a momentary delay won’t matter, but if there are enough “momentary delays,” maybe we can kick some of the steam out of this economic monster. Insurance companies, please have a moment to find a heart for the holidays. The taxpayers have supported your industry; now show us that you appreciate that effort.

Sacrifice: This is an easy call for executives and even middle managers. Eliminate those bonuses, don’t take those raises, but set an example. Downscale perks and eliminate as much excess as you can. Fly coach even if you are a CEO. And think about give-backs. Unions? Sit down with management to preserve the greatest number of jobs possible, even if fellow employees take a pay-cut. It’s now about the jobs, working conditions and wage rates can wait; besides, in a world of deleveraging, prices are falling like snow anyway. Those pay raises aren’t as necessary anymore; keeping your friends and neighbors in their jobs is mission one. If workers gather to make specific sacrifices to help others hold on to their jobs, we’ll beat this one sooner rather than later.

One Major Purchase: This one’s not for everybody, but if you were planning to make a major purchase, particularly if it is based on American labor and the only thing stopping you is fear (not your wallet), swallow hard and take the step. If enough Americans make that purchase, we can steady this foundering vessel.

Look Around You and Help Where You Can: If you don’t have cash to share or donate, think about giving your time. Somebody needs your help.

Government Officials, Think the Big Picture: Every unnecessary hoop that might be required, every decision to delay over an inconsequential matter, and every enforcement of a governmental policy needs to be made within the context of this great meltdown. The solution will always be a combination of little steps. Assume that whatever you do will get multiplied thousands of times over.

Dream: It’s okay to dream of and believe in a better future, to do whatever it takes to see that education remains a priority and to know that all this will pass. If all we do is rely on the actions of third parties, then this malaise will drag on. Believe your individual efforts will make a difference, because, in fact, they will.

Be Kind: Hard to do when the world is melting, but unkindness only makes things worse; it adds nothing to the mix.

Powerlessness leads to depression (emotional and economic), the ability to act and know you are making a difference is empowering and is also the ultimate solution to this horrible economic condition. We’re Americans; we really can do this. Merry Christmas and Happy Chanukah!

I’m Peter Dekom, and I approve this message.