Don’t Panic!

If there was ever a time for keeping your cool, this is it.

Let’s put the current changes to our financial institutions in perspective. Don’t let the headlines, the hype, the sad stories in the news control you. Remember, it is the quality of your energy, your sincerity, your purposefulness, that determines whether you can achieve what you want- THIS IS TRUE IN ALL TIMES, not just the officially designated “good times.”

And let’s not forget all the opportunities being created now because so many people are not staying calm. Of course, as in all times, great opportunities require a leap of faith, they require going into the unknown, ands in these times especially, they require rising above the fear that permeates us. English and Japanese financial institutions have already got bargain basement prices for parts of Lehman Brothers; Chase just got an amazing deal for Washington Mutual after making much higher offers over the last several months.

And Wachovia looks like it will be taken over by Citicorp or Wells Fargo and the second bailout looks like it is going to pass as this blog post is being written.

The same opportunities are manifesting for you and me on an individual basis: the prices for certain desirable things, like houses, condos, cars, art and other goodies will be quite negotiable for awhile. If we are smart, and can deal with the uncertainty, now is the time to buy. In fact, now is the greatest time to buy the things we really want, or to start or continue on the venture of our dreams…In certain respects, there has never been a better time than NOW.

Make no mistake about it, there are massive changes going on with our bedrock financial institutions. But that is nothing new and nothing to be afraid about. These institutions were reaping the rewards of their risky behavior for quite some time, and in a sense what is happening now is inevitable: It is balancing out their previous behavior, which was tainted by lots of greed that had become normal operating procedure for many institutions. We are very fortunate indeed because safeguards that were put into place after the great depression are actually working now- and believe it or not, the government has so far been doing a great job in dealing directly and promptly with the situation.

The American economy is fundamentally healthy and sound, because over the long haul it is dependent not on the unfortunate decisions of some greedy financial institutions, but on the drive, creativity and intelligence of the American people. There is nothing that I see that leads me to believe that these characteristics of the American people have been diminished; if anything people have become more workaholics than ever before in American history, and seem eager to be connected to their jobs 24/7.

When all the restructuring is complete(and I suspect more is to come),we will be faced with newly refurbished and fortified institutions that will work smoothly until the next cycle of excess hits us(10-15 years). And when the dust settles, many of the disgraced executives today will appear almost miraculously in about a year or more(freshly scrubbed or perhaps with a little nip/tuck) as heads of some of these newly formed or consolidated groups, just like our favorite TV actors suddenly appear a couple of years later on new shows after their old shows are cancelled.

Now that we have decided that there is nothing to be afraid about in the current situation, here are some tips on how to make this time(let’s say the next 12 months) the best time ever in your life:

1. Try to eliminate or at least cut down on verbal complaints about “the economy.”
2. If any friends or loved ones want to vent, be compassionate and show you care- a good way to do this is to listen and just say “I understand.”
3. Project the most positive energy into all your endeavors. By doing this you get an extra energy boost at this time because so many people are so negative in an auto-pilot way. By being so positive with your life, you will attract extra good opportunities your way because you stand out so much more.
4. Always keep in mind that there is an abundant amount of money “out there,” that people will always need food, shelter, basic and not so basic goods and services, and that you, and not the TV or newspaper headlines control your individual economy.
5. Enjoy this time because it will not be repeated.

Love to hear how you are doing with all this!