Finally a small amount of time to be able to write something. I was back east for a meeting in Winnipeg and stopped in to visit my son and daughter-in-law in Saskatoon. It turned cold the day I left, well cold for someone from the west coast.
These past few weeks I have been hearing this phrase “self fulfilling prophecies” on the radio and TV as well as reading it in the newspapers. Interesting phrase. It is usually mentioned that during these difficult economic times our speaking about it not getting better serves the negative purpose of it being a self fulfilling prophecy. What is also interesting is that there doesn’t seem to be any quick fix. What was to be cleared up in 6 months has turned to be a year which is turning into 2 years and possibly longer. How long did it take to create the mess we are in? I would suggest it may take that long to get us out of it.
When things were going ‘great guns’ there was nothing but euphoric hype that it would never end. If there was ever a suggestion that it may end or we should maybe turn the tap down a bit, one was usually drowned out by the great economic champions of free enterprise. Now it is only a few months old and the same captains of industry are telling us to stop talking about it because it is a self fulfilling prophecy. Maybe we should talk about it in any fashion we want to. Maybe some are very upset over loosing a big chunk of net worth. Maybe those that are saying to tone it down should be told to shut up. We are still hearing from so many ‘experts’ about what will happen. These in large part are the same ‘experts’ that were telling us nothing would ever come down, everything would always go up.
Well that sound that you hear you have heard everyday for a while now. That sound is the toilet flushing. Toilets have to flush to get rid of certain objects that you don’t want around anymore. Our system is beginning to notice things that may need flushing. It isn’t a matter of fixing, or throwing more money at it, or saying it will get better. It is a matter of getting rid of toxic loans and bad credit decisions and God knows what else. That takes time. It will be painful and it will not be pleasant but we will pull out of it and sometime in the unknown future it will be better. Right now we are still trying to understand how bad the wounds really are. Besides medication, much of getting better happens over the course of time — a priceless and limited commodity for all of us. Much of how we get better is to give things time to heal. It may take longer than what we originally expected but given the resilience of our communities, neighbours, family and the democracies we all live in, I have no doubt we will survive. Those economic wounds we suffer are far from the heart that creates the meaning for our lives.