The sky is falling

Is the sky falling? The main stream press and my favorite blogs have come to the same apparent conclusion; The sky is falling. But I agree with Mark Dykeman. Now is the time to be calm and not to panic.

In fact as I posted on FriendFeed the other day, I believe,

“The market is down but the sky is not falling. Many economic factors have converged to be fueled by greed and an election year. 2009 will be great. There is no reason for despair. Undervalued, undervalued, undervalued. Things will go back up. Our future is bright and our economy is resilient.”

There is plenty of cause for concern and despair is all around us. The world economy is flailing, we are in a war with no end in sight, there is an energy crisis, and a fuel shortage.

Despite the outlook I am optimistic. Our country has a storied albeit short history of being resilient, strong, and courageous in times of crisis.

Where has our optimism gone? Perhaps it will return on November 5th. Regardless of the election’s outcome I believe the current problems are exacerbated by an election year.

The future is bright. I look for 2009 to be a great year. In the meantime I will keep looking up at the sky but I am sure it is not falling.

P.S. I promised on FriendFeed last week that I would begin posting again. I have several posts in the works and will get them out soon.