Fear - Always Short Term?
Fifteen years ago this November, version 1 of the Mosaic web browser launched a new era in communications, enabling an explosion of new ideas and new businesses with lofty stock valuations. A few years later, realism returned, and stock indices today are hardly moved from where they were in early 2000.
Markets moved up from 1945 to 1965, sideways until 1982, and up until 2000. Now we are engaged in another great sideways movement. It may continue for another decade and as esteemed businesses fail and congressmen pound their fists, it is natural to fear whether our economic system can long endure.
Yet in a larger sense, human advancement has never stopped for long since our emergence millennia ago. And as long as there are people dedicated to taking risk in anticipation of reward, progress must be near.
So let us all resolve not to succumb to fear of the financial and political storms around us, but to rededicate ourselves to the proposition that hard work with wise direction can succeed, because it is exactly that commitment which powers our global prosperity.
- Curt Finch, Journyx CEO