Of Life, the Recession, and Apple

I’m reminded of the fragility of the human condition. The media and news have continuously pelted us with information about the seriousness of the recession. Financial analysts predict that this recession could sink into the greatest depression that the United States has ever known. Well known corporations that have spent years building up their name and company are either on the verge or have already filed for bankruptcy. Circuit City, Lehman Brother, and DHL come to mind. People predict that it will take until at least 2010 for the recession to end. People have lost jobs not necessarily because of the quality of their work but because of the impossibility of providing everyone with a job that is currently employed.

Apple, one of the most famous computer and device makers of the current generation, has become a household name. The founder of Apple, Steve Jobs, was chiefly responsible for Apple’s ascent to the top. He recently announced that he would take a medical leave of absence to focus on his recently public health concerns and his family. Jobs stated that the absence would be five months, but many suspect that it is permanent. The tech world was watching as he gave his last keynote speech, not because of the products that were being introduced, but because Jobs appeared startlingly thin. He rebuffed rumors that anything was wrong with himself, but we all suspected something.

Despite being a “pc,” Steve Jobs is an integral part of the tech world that I know. Apple’s product announcements are so mesmerizing because Jobs makes you feel like you’re his friend. He gives you the feeling that you’re shooting the breeze, and that he’s just telling you about this cool new product. I never bought any Apple products for myself. However, I appreciate the thought and competition that Apple provides for the marketplace.

Jobs reminds us that we are all human, whether you’re a CEO or a sales rep. One question that I have is: how will we all weather this recession? The more important question that some have to face is whether they will even survive this recession. In other words, will they live long enough to see the other side of this stark economic downturn? And if they won’t, maybe this recession isn’t really a big deal to them at all. That’s right, it never fully registered in my head that people live and die everyday. I thought of this recession as a daunting limbo that we need to get through before we see better days. But for some, their better days are now, otherwise, they won’t have anymore. Recession or not, we all live in the remainder of our lives. I haven’t been hit as hard by the recession as many people, but that doesn’t mean I need to squander the time that I receive. It’s too easy to complain about the present when the future is unknown. And in the words of Dave Matthews, “the future is no place for your better days.”

Unchained from the Economy

People should realize that money does not define who they are.  Of course it’s going to be difficult for those that have watched their retirement portfolios disintegrate over the past few weeks.  And of course it will be hard on those that have had to refinance mortgages or worse, face foreclosure.  People will not be able to get loans for school or to make large purchases, etc.  In the end, you can cry and panic about loss of money, or you can ignore it and decide how to respond in this tough financial world.

We don’t want to live through a second Great Depression.  But in a time of dire financial consequence, detachment from money is the best thing that you can do for yourself.  The chips will fall where they fall, and they will fall hard.  Through it all, recognize the truly important things in your life and work to maintain those.  I would rather lose all the money that I have before having to lose a best friend or family.  Similarly, tough times are a great time to realign your priorities.

Panic won’t help to reach a better answer for where you want life to take you.  In fact, you’ll probably be worse off if you panic.  The best thing to do is keep a steady head, know what your options are, and then decide what to do from there.

The Day the People Spoke

A member of Congress stated that today is a “day of consequence.”  The gravity of this statement is tremendous.  On one hand, we had president Bush, Secretary Paulson, and Chairman Bernanke pushing for one of the largest bailout plans to date: $700M; on the other, the American public was livid at the idea that taxpayer money would be used to bail out Wall Street.  Additionally, members of Congress were torn between the demands of the Executive along with the pressures of running a successful political campaign over the next 6 weeks.

Among the people of the United States, there were further divides.  Citizens in fear of a depression saw the bailout as the only hope of saving the struggling American economy.  Those in favor of a strong free market saw the bailout as hopeless as jumping in front of a freight train.

Initially, when the moderator called the votes, she declared that the “yays” had won, only to be stopped by loud cries of objection from members of Congress for a more accurate count.  Once the votes were tallied, the “nays” won instead.  And as the votes came to a close, the Dow crashed almost 700 points.

From this point forward, we’ll never know what the reaction would have been if the bill passed.  That hypothetical history has passed us and instead we are left with the present.

Considering the different forces at play in weighing the decision of whether the bill should pass, it’s undoubtable that the decision was extremely complex and limited by our inability to accurately predict the future.  However, on balance, it seemed that the American people did not want Wall Street to be bailed out, and Congress listened to the American people.  Whether they did so because of political reasons or because of an earnest belief that this bill would hurt more than help, a small but enormous victory has been won by the realization of America’s opinion.  Today, September 29, 2008, America was heard – loud and clear.

We may be headed for a depression or a prolonged recession, but we must never forget that this choice was ours.  Popular opinion could’ve easily forced the hand of Congress in a different direction.  Instead, America said “no,” and we must now own the results of our choice.

Overall, I am happy that the People’s voice prevailed.  Regardless of what the right choice will be in the long run, the power of America should lie with the people.  For the first time in many years, the American people possessed and exercised its power.  Personally, I think the proposed plan was doomed simply by calling it a “bailout.”  No hard working American would ever feel right about supporting a “bailout” of the country’s wealthiest people, even if it means severe hardship.  Calling it a “bailout,” even without giving money outright to Wall Street, is offensive.  This country was founded on the premise that workers own their labor and the products of their hard work.  To take a portion away to attempt to shore up the failures of Wall Street is unfair.

We may be headed for rough years ahead.  At this point, our fates may be sealed, but I have faith that the American people are strong.  We still share many of the same beliefs that made us a strong nation.  Don’t be afraid to help those in need because we may all need it.  Godspeed to all those that currently endure the consequences of our decision and those in the future that must cope.

Running Away from Your Troubles

The economy has been on my mind over the past week or so.  It’s apparent that the nation is in trouble.  Since I participate in the stock market, I find that I allow stress and anxiety that permeates through the market to have an effect on me as well.

I don’t know if a deal will get done in Washington.  It seems like it will be tough to decide on agreeable terms for the Bailout Package as well as mustering enough votes to pass the legislation once the final draft is crafted.  Either way, America will have a bumpy road ahead.

Yesterday, I went for a run, and I felt so much better after it.  The sensation of pushing your body to its limits, feeling the crisp wind shear against your face, and running simply because you have the freedom to run was an exhilarating experience.  I run semi-regularly, so I’m not sure what made yesterday special.  Perhaps it was the weather.  Perhaps it was the realization that even as economic crisises exist, my humanity exists as a separate entity from the economic world.  Of course, we all have bills to pay.  But for the hour of running that I enjoyed, I was truly free – nothing but me, the earth, and the wind.