07 October 2008
I'm as scared as everyone else, but let's put this recession in perspective
This too shall pass.
I know, I know. It's been a wild ride on Wall Street this week and things are not predicted to improve for a very long time. Chris and I are battening down the hatches just like everyone else. It is easy to get caught up in all the media drama, gloom and doom and general anxiety.
I was online today and came across this link which illustrates all recessions since 1948. It is interesting to see how today's volatility softens with the wide angle view of time.
Its conclusion: Recessions are generally short in duration and are followed by long periods of prosperity.
Please click on the link below and take heart. Wall Street and Real Estate will return. We just have to ride it out.
A Brief History of Recessions from Harvard Business School
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C.C. and Chris Wall