Tuesday, October 7, 2008

Finance as Entertainment Doesn't Work

My friend picked me up this morning to go paint. She announced the long deserved trip she was planning with her husband up to Napa was put on hold. He's freaking out about the markets. Later, in class she mentioned the first thing she does when she gets up in the morning is turn on the tv to see what is happening on the markets. Turn it OFF!

We're all scared. And yes, it is a bit like watching a wreck. It becomes hypnotizing. Just because it's compelling, doesn't mean it's healthy and we need to do it.

I worked through three or four major recessions as a career counselor. In fact, my husband was unemployed during the recession of 1982. I used to tell clients to not open the paper. In those days, one needed the paper to look at the want ads. Our little brains just love to buy into the concept of 'the sky is falling.'

The sky may be falling. Our job is to stay calm. Let it run it's course and then figure out what to do. Allowing yourself to get crazy doesn't help you and it doesn't help the country.


Caroline B. said...


Kathleen said...

You are so right, Cathy! "The sky is falling" incessant media coverage is mind-numbing and best avoided. Do we need to be informed? Sure. But do we need to be bombarded with all the doom and gloom at a never-ending pace? No! Years ago, the news was on twice a day; 6 PM & 11 PM and we did just fine. Having multiple 24-hour news channels and having incessant local newscasts doesn't necessarily give us more information ... they just repeat the same info over and over. And make the problems seem even worse than they already are!

fatfighter said...

Must stay calm.
Deep breaths.
You're absolutely right - too much information about this can make you crazy. I've been trying to just check the news once a day so I can stay informed but not totally freak out!