Fundamentals may be strong . . . but don’t underestimate the force of emotions driving the market.
As doom & gloom headlines try their best to sell papers and spread fear, we create a self-fulfilling prophecy. Fear causes paralysis: purse strings tighten, and gives the media even more gloomy headlines to sell. Everyone loves a tragedy!
There is something to be done and it requires your involvement. You are in these conversations everyday – you must turn them around. Keep some good news in your back pocket and use it as conversation starter; spin a fearful conversation into a hopeful one. Hope, also, is contagious and we can harness the power of the self-fulfilling prophecy to our advantage.
In the midst of global economic confusion:
Did you know Alberta has a $15.8 BILLION rainy day fund?
Did you know Alberta will NOT be running a deficit this year?
Did you know Alberta’s revenue for the year is now pegged at $39.9 billion, up $1.3 billion from the budget?
Did you know Alberta has a projected surplus of $2 billion even after taking the last few months conditions into consideration?
(source: Edmonton Journal (Archie Mclean), November 18, 2008)
How many jurisdictions in the world can compare?
Obviously blowing sunshine around is a simplistic solution – but I challenge you to make the world around you a little more hopeful, we have MUCH to be grateful for! Don’t underestimate the influence you have- stick your neck out and use it. Don’t be afraid of a little criticism.
Here’s your simple task:
1. Find some good news. Post examples here for the rest of us to glean from and spread around.
2. Next time you find yourself chatting with your next door “economist”, pull out the good news and preach it.
3. Share your experiences here and let us know how it went.