Senator Phil Gramm got in hot water this week by suggesting that the economic difficulty facing Americans right now is “mostly mental.” Gramm went on to use some pretty unfortunate language, at one point referring to Americans as “a nation of whiners.”
While Senator Gramm’s choice of words was undoubtedly inflammatory and ill-advised, the overall point he was trying to make is a valid one: the biggest problem with the U. S. economy at this time is a lack of confidence (read: faith) amongst the buying public.
When people get scared because of economic warnings and rising fuel prices, they tend to stop spending money. This has the effect of putting the crunch on retail and other businesses, who then proceed to lay off workers and “downsize.” In other words, worrying about financial hardship is a type of self-fulfilling prophecy, and it all comes down to what economists call “consumer confidence.”
Keep It off Your Radar
Those of you who have read my blog posts before probably already know that I don’t watch the news. I do scan the headlines on my start up page on the computer, but I only read a news story if it is directly relevant to me, or if there is something I can do about the situation (these types of stories are few and far between).
For example, if a hurricane is barreling toward the east coast of Florida (where I live), that is a news story that is directly relevant to me, my business, my friends, family, et cetera. Those types of news stories I will read; but speculation about how bad things are economically for some people, in some areas, in some sectors of the market, are frankly none of my business and I make it a point to not allow such nonsense “on my radar.”
In fact, I encourage everyone to place strict limits on the amount and type of news coverage they will expose themselves to. Some people think this is simply burying your head in the sand, but I see it differently. Exposing yourself to negative information about the economy (or anything else for that matter) tends to become a self-fulfilling prophecy.
Which Way is Your Energy Flowing?
James Ray is famous for saying “energy flows where attention goes and when we put our attention on problems, tragedies and other negative news stories, we are in fact inviting these things into our experience. This is exactly what happens in times of economic downturns or “recession.” People place so much attention upon negative factors that they become fearful, and end up making the economy worse.
Economic ups and downs are a fact of life for all people, in all countries, at all times. And while it is true that the economy has been sluggish in some areas and it has caused disruptions in some American’s lives, it is important to keep things in perspective. Economic upturns and downturns have always been, and will always be. Keeping that in mind is a good way to weather the storm without allowing it to blow you off course.
In times of hardship (economic or otherwise), it is important to return to the basics: keep your focus on what you want, and ignore the rest.
To Your Continued Success!
Jon
Jon Mercer, MA
Personal Development Coach
http://www.attractanything.com/
Managing Director, Youniverse LLC
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