Springtime for Our Economy

By Bob Connor

Main Entry: spring·time

Function: noun

Date: 15th century

1 : the season of spring 2 : youth 1a

3 : an early or flourishing stage of development

– Merriam-Webster Online Dictionary

In the northern hemisphere, usually on March 20 of each year, the astronomical event known as the spring or vernal equinox occurs. On this day, the length of daytime and of nighttime are equal. The sun is directly overhead. It is the first day of spring. Please see http://en.wikipedia.org/wiki/Equinox3 and http://en.wikipedia.org/wiki/Spring_(season) for more details.

It is from this date that the date of Easter is calculated. Easter falls on the first Sunday after the first full moon after March 20th. Note: In the early church, pilgrims to Jerusalem to celebrate Easter wanted a full moon to travel by at night to avoid the heat of the day and to afford them the cover of night to protect them from bandits.

Springtime. It is a time when all things are made new again. Life springs forth. There is new hope…new optimism. That is what our economy needs. Injecting borrowed money into the economy might be necessary to “prime the pump”. But, there is something else that is critically needed.

I am not an economist, but I do (like most everyone else) have an opinion on the economy. I did take a couple of courses in economics at the University of Houston. I remember that the professor gave us a list of things that affect the stock market. I don’t have that list now nor can I name all of those forces that affect the enigmatic stock market, but I remember very distinctly that they all had one thing in common – they were all about perceptions, or you might say…psychology.

What people think is going to happen greatly affects what does, in fact, happen. If someone is confident and positive, good things usually happen. If negative thoughts dominate…well, you know the rest.

We have all heard the phrase “consumer confidence”. But, there are also factors of “investor confidence” and “banker confidence”. These three factors, in my humble, lay opinion are the key factors which need to be enhanced in order to stimulate the economy most effectively.

The massive borrowed money that is being injected into our economy by the federal government cannot help but stimulate it to a degree – no matter what is done with it. It will provide the ways and means to improve the economy. But, if consumers, investors, and bankers are simply afraid to spend it, invest it, and lend it, respectively, then the economy will not experience the full effects of stimulation that was within the realm of possibility. The stimulation will fall short of its potential. The economy will not fully experience a timely “springtime” – a rebirth.

So, how do we stimulate these three factors? How do we have a “springtime” for our economy in time to save jobs and businesses? Since they are factors of perception, then there must be positive input which affects the perception of these three groups of people (which encompass everyone). It is, simply, the power of positive thinking.

I am so tired of hearing commentators and elected officials remind us of how bad things are. They even invent new phrases like “economic meltdown” and “toxic assets” to drive their points home. I even heard the phrase “radioactive, toxic assets” on the radio today. For heaven’s sake “shaddup already!” Enough!

Here is just one example: unemployment has now reached 8.5%. That is, of course, unacceptable – especially for those who are unemployed – and we must do something about it. But, let’s not forget that there is 91.5% of the workforce who are not unemployed. Let’s rejoice in that fact and resolve to bring the 8.5% down.

It is the power of positive thinking that we need to foster in order to activate the funds that are being injected into the economy. It is the optimistic outlook of all of us to believe in ourselves as Americans.

So, let’s hear our leaders speak like leaders and our commentators remind us of our strengths. Not to gloss over our problems, but to defeat the fear of them. “We have nothing to fear but fear itself” F.D.R. assured us as our ancestors tackled and conquered the Great Depression.

I believe that people want to hear about what is right with the economy. I believe that we are sick of the “gloom and doom” that infects the environment of the commentary on our economy like a virus in a computer that slows it down and corrupts it.

In this time of the year when we are seeing all of nature come back to life… when Christians celebrate the resurrection of Jesus,… when Jews celebrate Passover, and people of all faiths in the northern hemisphere welcome the sunny, warm springtime as it replaces the cold gloom of winter, let us proclaim a spirit of optimism. Let us put behind us the pessimism of the winter of our discontent.

This spirit of optimism, I believe, along with the injection of money into the economy which the federal government is undertaking, is the medicine needed to cure our economy and to bring forth a springtime of renewed prosperity in America and in the world.

Bob Connor is a continuing education teacher at St. Ambrose Catholic Church. You can reach him at bobconn@earthlink.com

(The Banner, April 9, 2009)