There will be no tears shed as 2008 is shown the door at midnight tonight. In my 35 years in the financial services business I cannot remember any previous year where there has been such an avalanche of continuous bad financial and economic news. And just when you thought it could not get any worse Bernard Madoff serves up the coup de grace in December; a $50 billion dollar ponzi scheme that duped and wiped out many unsuspecting, yet sophisticated, financial advisers and investors.
With 2009 just a day away you have to ask yourself the following question: “Is that a light at the end of the tunnel or an oncoming train?” There is no doubt that 2009 is going to be a transition year. People are very fearful not only about their own future but the future of the country as a whole. But, what got us into this situation in the first place. One word “GREED.” Everyone was trying to make a quick buck with no concern for the consequences or long-term effects.
This week I watched an old Gary Cooper movie called “John Doe”. The movie described the hardships and despair people felt during the depression and it struck me how similar the situation is that we are facing today. The message of the movie was “all of us little guys have to stick together and look out for each other.”
Our President-elect Barack Obama recently conveyed a similar sentiment during his recent holiday address. He said “These are tough times for many Americans…. We must rededicate ourselves to the notion that…. I am my brothers keeper.”
If we, as a people, are to survive in the future we must first return to the values that were prevalent back in the 1950’s and 60’s. Back then you knew all of your neighbors and everyone watched out for every kid on the block. People looked out for each other. Saving for the future was the norm. If someone were in trouble friends and family would offer assistance and wouldn’t think twice about it. It is time we reassess our priorities and reinstate “A return to family values”.
As you are sitting at home relaxing on New Years day reflect upon what is really important to you and your family. Finding fulfillment is not about the stuff you buy. Those things are only objects. It is the people in your life that should matter the most.
Tomorrow is the beginning of a brand new year for all of us. Let’s make it the best year we possible can.
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