Regaining Confidence
Can a philosophical belief, such as the glass is half-empty or half-full, apply to a social structure such as a family, a community, a state, or a country? Can self-fulfilling prophecy have an impact on the development of such a structure? If so, could it also impact economies of the same? Big questions that I thought I might research in peer reviewed journals or academic papers for an answer to shed some light on our current economic crisis.
Self-fulfilling Prophecy, Pygmalion Effect, Rosenthal Effect, Motivational Theory, Red Queen Hypothesis, Learned Helplessness, Loss of Confidence, Wealth and the Negative Wealth Effect…I started my research and found too many articles, too many differing philosophies and just too many ideas to sort through for my short blog post as comeback-mom. Suffice it to say, I’m going mostly on mom gut instinct here on out.
What I’m asking is how we regain confidence in our economy, because it seems to me, that over a very short period of time, something pulled the financial rug out from under millions of people - worldwide, in job losses, wages lost, investments lost and produced an overall financial uneasiness - or better described as queasiness. I know more than a few friends who describe their current emotional state regarding their finances as feeling, “just sick to my stomach.”
You might have some experience with the queasiness scenario. Your child comes home obviously having been in a fight at school. They might look like they got the snot kicked right out of them emotionally or physically. You ask, “What’s wrong?” They give the requisite answer, “Nothing.” Clearly, nothing is something and for the next few days, they don’t want to go to school because they just don’t feel well. No fever, no cough, no calling Ralph on the big white phone, no visible signs of illness, yet they say they are nauseous. Bully! Bully alert! Every mom knows this when seen. Your child has lost confidence in their ability to make it through a school day unscathed; the bullies lurk behind every corner.
Yet, who or what is our economic, financial bully? How is confidence in something as permanent as an economy, lost? I suppose losing confidence in anything isn’t a snap judgment. We don’t wake up one morning with a decision that today’s the day I can no longer believe in tomorrow. Maybe we have to watch more “Annie” as she sings, “The sun’ll come out, tomorrow. Betch your bottom dollar that tomorrow, there’ll be sun.” Last time I looked, the sun did come up. The trouble has been, when tomorrow comes the economy feels worse than yesterday. However, yesterday had clues of its own.
“They’re taking too much money out of the mainstream.” I don’t remember saying that to my mother, but she does and recently told me so. I had called her to let her know that President Bush was going to speak in a few minutes about the current economic crisis. She said that I told her over 10 years ago that I didn’t like the way things were shaping up. The people in power, those at the top of the publicly-traded corporate pyramids were taking too much of the pie for themselves. The common person was not getting a fair share. Taking so much out of mainstream would have a long-term effect on the economy. Think about the money not paid into savings accounts or the social security system because of the cap on earnings. Think of the years of minimal or no raises to people and their ever growing dependence upon credit as housing, automobile, energy prices and taxes increased and wages seemed to stand still. She reminded me that I told her this as long ago as 1996. Did these things have an impact? Would today look differently, as in “It’s A Wonderful Life,” if people in positions of power had considered every job as contributing to the well being of an organization and compensated them accordingly? If people had cared less about the Smiths or Jones, who seemed to always have more, and lived within their own means of needs not wants, would things have been different? I don’t know.
An article I read on Yahoo News, where the link is no longer working, By Joe Bel Bruno and Tim Paradis, AP Business Writers, talked about the stock market as a leading economic indicator, investors buy and sell based on where they believe the economy will be in six to nine months. They quoted Georges Ugeux, chairman and chief executive of New York-based Galileo Global Advisors as saying, "The reaction (stock market) is clearly giving a downtrend and that there is a lack of confidence of investors into the future growth of the U.S. and the world economy." So, confidence is rooted in the beliefs of how good the future will be.
A lack of confidence can cause all kinds of troubles, as moms with bullied children know instinctively. What do we moms do for those children when we have to push them out into a world in which they are less than confident? We put a smile on our face and we shore them up with lots of cheers of how great they are. We give them instructions to avoid the one who’s bullying them. If that’s not possible, we may have to have friends, teachers or administrators intervene. Nevertheless, most of all, we pray for them, we hope for the best and we love them everyday they come back home. Everyday, when something goes right; we ask them what they did and encourage them to do more of it. We expect them to get through it, continue doing what they are supposed to do, have confidence in themselves and go to those in whom they also have confidence. To talk with others who will help them and teach them, not gossip or pull others down with senseless criticisms.
People talk and they listen. What is the current effect of our listening to media content, music, movies, books and television? Now add to that mix, the new social media, You Tube, blogs, online discussion and online communities and more. People talk and they listen, then they talk. It may seem trite, but talk about the good stuff. Tell others what they’re doing right. Help in your jobs, homes and houses of worship to teach others who are less fortunate than you are. Remind yourself daily to be thankful for all of the things you can accomplish with confidence and then continue accomplishing those things. Think about making tomorrow a better place. Have confidence in your future.
I know I didn’t give you the scientific basis I had sought, for the answer I’ve come up with, but just like, “Yes, Virginia, there is a Santa Claus;” Yes, I do believe that the glass is half full pertains to social structures and that self fulfilling prophecy can have an impact. Therefore, I’m starting at home with positive images today while I get myself and my family shored up for regaining confidence in tomorrow. Let me know what you’re doing to regain confidence. No other plans have worked thus far, maybe yours will.
Tory Johnson
Comments (10)
Great article. You are right we must find positive in every situation despite how bad things appear to be. I remember when I didn't have a job for year and after each interview and rejection I felt like I was wasting my time. I couldn't give up or just continue to feel sorry for myself so I moved forward despite self doubts. Life is an emotional roller coaster and this recession we are in is just one of the rides we are all on together.
The media always concentrates on the version of the truth they want to tell and not necessarily the whole truth and nothing but the truth. However, we can control what we choose to retain in our consciousness.
Love your new pic. Kudos to you for writing this important blog.
— Posted by A.M. Morgan | December 15, 2008 1:59 PM | Comment Permalink
Oh what webs we mortals weave...Thanks for the post, Cheryl. I am not going to contribute thoughts on the Fannie Mae, Freddie Mac, govt bail-outs, who gave out bad loans, consumers who signed for loans they couldn't afford, trading on margin, why consumers overspend, banks, inflated executive pay, wall-street - I for one am not near "schooled" on all of the interwoven happenings that brought us thus far. I am paraphrasing Susan's post, we are intertwined more than we realize. I will say, I am a big supporter of the free market system and agree that people with self-interest to propagate and sustain the entire organization drive it, not the individual - unless of course it is an organization of one, but certainly not the govt. I've asked myself, what would I do differently in a top echelon role - I have to believe I wouldn't have managed a system into a situation of asking for public bailout and would have been aware of and responsive to the key health indicators as given by a free market! You have given us great input about which to think.
People have to remember that "A government big enough to give you everything you want, is big enough to take away everything you have." - Thomas Jefferson AND "Any society that would give up a little liberty to gain a little security will deserve neither and lose both." Benjamin Franklin.
— Posted by comeback-mom | December 5, 2008 2:55 PM | Comment Permalink
The notion that "they" are "taking too much money out of the mainstream" is accurate if you instead equate "they" with the government and "mainstream" with the markets. When the government provides incentives - guarantees on bad loans that act just like no-fault insurance policies - no one should be surprised that lenders made the loans. It's not the "me generation" being willfully greedy, it is the government having artificially shifted the water line at which brokers would make a given loan that is the core of the issue. It is exactly the self-interest of those individual lenders and agents that would have righted the boat had the government not been messing in private business. The markets have - and should - be driven by people acting in their own self-interest - how else do we get valid and stable prices for good and services, including real estate and loans? Now we have a nationalized mortgage broker - which has the potential to take half-full glasses, knock them over and shatter the glass. Do we think the government is going to make better loans than private brokers would have had they not been given a government guarantee against defaults on what they normally would consider bad loans? Witness the craziness of the daily reversals involving trillions of dollars on what government action is needed at the top after Congress "took action". To paraphrase what one pundit said recently, "They're faking it - they (the government) don't have a clue about what to do to." I vote for separation of government and markets - like separation of church and state that would empower people to lead their lives - including trading goods and services on the basis of personal criteria - as they saw fit, within their individual contexts, whether seller or buyer, which they deeply understand, respect and cherish more than anyone else. There would be no better medicine to treat our queasy stomachs than to restore the natural order of free markets.
— Posted by Cheryl | December 5, 2008 12:01 PM | Comment Permalink
Hello, Janine! Thank you for your insight. All I can say is that I love reading your blogs. There is something comforting about them no matter what the subject. (And I'm VERY selective about what I spend time reading out of necessity!) I have been thinking about the idea of bully and wondering who the proverbial bully is in this case of potential economic collapse. I do believe we are all in this together, much more than we ever really considered. What was that Pogo saying? "I have seen the enemy...." ......Write more, Janine!
— Posted by Susan Parsons | December 5, 2008 7:55 AM | Comment Permalink
Thanks for all of the great posts. I don't want to come across as Pollyanna'ish as only spreading a message of goodwill and cheer - however those are good things and getting your social circle to buy into hope is a good thing as well. What I'm saying we need to do to regain confidence is to act confidently in all the things we usually do, not to slack off or allow FUD (Fear-Uncertainty-Doubt), to steal peace of mind or cause hasty decisions. One foot in front of the other, and make sure others are marching with you, help them if you can. I liken it to sending your child out into a world of bullies - you build them up as best you can to face whatever the future brings them, but they have to be strong, confident and independent. Harriet posted it well - lets all stop being so selfish. There are lots of people who are employment challenged, or in transition; reach out, as Tory recently posted, and help a friend when you can. Have confidence in the future - "it lies within us!"
— Posted by Comeback-mom | December 4, 2008 5:10 PM | Comment Permalink
It's easier to be positive when your community of friends, family, colleagues, etc. can be positive too. Your message to spread optimism around you is spot on.
— Posted by Silke | December 4, 2008 1:56 PM | Comment Permalink
J9- thanks for the insightful article. Alas, the house of cards has finally toppled over, and the public at large is awakening to a new tomorrow...living within their means, balancing needs and wants, and maybe, just maybe, starting to look out for each other instead of just for themselves. Sounds like we're taking a page from the past! Although I'm employment challenged at this time, I refuse to believe that this is a permanent state. It's forcing me to think and act a bit differently, which is a good thing! 2009 is a new beginning, and yes there will be challenges (thank goodness, for we wouldn't know just how good we have it without them!), but none that are insurmountable. I'm enjoying the holiday season with family and friends, volunteering a bit, and visualizing a prosperous new year!
— Posted by Toi Beaman Leal | December 4, 2008 12:40 PM | Comment Permalink
Nice article Janine and I do believe that the "Me" generation is largely at fault for our economic condition. Mortgage lenders and real estate agents who saw dollars instead of accurately and fairly assessing a families ability to pay, CEO's who have taken huge bonus', unions feeling that "the company" owes them the world, and a select group of people who continually take advantage of others, stealing identities, evading their taxes, cheating the system are all at fault. I, too, believe that the glass is half full and I have every bit of faith in our great country as a whole, but each and every person needs to start looking at the big picture and stop being so selfish.
— Posted by Harriet Lay | December 4, 2008 11:27 AM | Comment Permalink
Thanks David for the encouraging message! I'll bet with those words of wisdom and I'm guessing here - lots more in your arsenal, in everything you do you are a conquerer, overcoming challenges with physical, mental, or moral force! I'm all in!
— Posted by comeback-mom | December 4, 2008 10:29 AM | Comment Permalink
I agree-that a self fulfilling prophecy can have an impact. In fact, some of my favorite quotes of all time have to do with this very thing: "Nothing great was ever achieved without enthusiasm"-Ralph Waldo Emerson and "Whether you think you can or you can't, you're right"-Henry Ford and "what lies before us and what lies behind us are tiny matters, compared to what lies within us"-Ralph Waldo Emerson. If we read these quotes and agree that they make sense, why shouldn't they make sense now, when we really do need a positive attitude to shift this economic situation we are all in?
— Posted by David | December 4, 2008 8:30 AM | Comment Permalink