Stay Optimistic, America Will Be Back

by James Hendrickson on March 25, 2020 · 2 comments

Stay Optimistic America Will Be Back

So, the country is in the midst of adjusting to the Coronavirus global pandemic.  This will be a shorter posting, with just a collection of observations and a conclusion about the enduring strength of American industry.

First, nobody really knows what is going to happen with the economy moving forward.  Most of the intelligent analysis I’ve read suggests we are headed for a recession.  However the extend of the downturn will depend on a lot, including policymakers ability to respond effectively and the efficiency of our public health systems.

This is the biggest health crisis in living memory.  Literally nobody has ever seen something like this before. It is totally new, and as a result people are panic buying guns, alcohol, cleaning supplies and cheap carbohydrates.

Second, pretty much the whole United States is fearful and distracted.  I suspect what is happening is you’re starting to see some fraying of the seams of our infrastructure.  For example, I’ve been having more challenges with my internet and iPhone service, and my credit union is having problems with its interface.   I’m hearing the same from my family and colleagues as well – getting basic things done takes longer.

Third, when times are uncertain, don’t bet against America.  America has lived through the great depression, World War II, and the turbulence of the 1960s.  So, take heart. America will be back.

Here is a 2015 quote from Warren Buffet to illustrate this point.

??? 240 ????? ??’? ???? ? ???????? ??????? ?? ??? ??????? ???????, ??? ??? ?? ?? ???? ?? ?????. ???????’? ?????? ????? ?? ???????? ??? ?????????? ???? ???????? ?? ??? ???? ??? ?????? ????. ???????? ?????? ???????? ???????? ???? ?? ??????? ??? ??????? ???? ???? ????????. ???, ???, ???????’? ???? ???? ???? ??? ?????? ???? ????? ??????? ???.

So, readers, my take is: stay optimistic, America will be back.

{ 2 comments… read them below or add one }

1 Steveark March 25, 2020 at 11:37 am

Personally I haven’t talked to a single person here who has even brought the virus up in conversation. It’s hardly impacted my life. But then I’m retired as are many of my friends. We still distance run, play tennis, fish and hike. We still don’t have jobs to worry about and the small dip in our assets’ values isn’t significant. There is still plenty of food on the grocery shelves and there are no shelter in place rules. Life is very unchanged. Church and board meetings are electronic now but that’s actually easier than in person meetings. I know this is a reality to many people but it’s hard to notice for early retired financially independent people in rural locations.

2 James Hendrickson March 25, 2020 at 11:42 am

Steve,

I think some people are very worried about the state of the economy. I talked with my brother in Hawaii yesterday. He thinks if another big event happens, like a war with Iran, it could push the country into a depression.

Also, levels of fear are high. People don’t don’t want to leave their homes. I was at the grocery store earlier this week and nobody was talking, they all kept their distance and didn’t interact.

For me, I really believe that America is going to come back from this. Its helped us focus on whats important and what isn’t important.

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