Harvard Business Publishing

Dear Annie,
What a wonderful and deeply human article. It is a rare thing to read ,something like this from a professional now days.
You say,that most of us can't do a darn thing to change what is happening on Wall Street or in the financial markets around the world and you are right. It has been my conviction, for quite a long time that the contemporary financial machine that resulted from the creative design input of our "fantastic brains", has slipped out of our control for quite a long time. No matter what financial wizards,experts, Gurus,etc, preach, the system is in a auto- pilot mode of flight and we have to patiently observe what will happen. Unfortunately the system is not so simple as a bicycle so that
it can be repaired overnight. Such" interactive complexity",combined with relativity,quantum mechanics,catastrophe theory, chaos and human bias is not a possible feat for any living reformer, innovator to sort out for the time being even in theory. I am afraid that this "madness",as you call it can't be stopped neither individually, nor collectively- we simply ran out of such time proven mechanisms , which we blindly trusted without questioning the axioms on which out system was functioning with its ups and downs, but this is a long story. You are right in stating that- We need to rise above fear,and look to the future in the period to come, to re-form our lives, our companies and mostly I would say -our economies, where something went radically wrong. One is for sure that when so many Devils come together, Hell is to pay the bills! God has to bless the 44'th President of the U.S., who when stepping in the office must essentially redesign the whole system to be able to cope efficiently with the new realities in a constantly accelerating world, racing through: science, education and politics towards catastrophe. The idea of a "New World Order" is also falling apart in front of our eyes. So what is left except hope? The ancients seem to have some answers: "The highest attainment is to know non-knowledge. To regard ignorance as knowledge is a disease. Only by feeling the pain of this disease do we cease to be diseased. The perfected man, because he knows the pain of it, is free from this disease.It is for this reason that he does not have it. Such sentences appeal to the heart not to the head. They land us into a region where intellectual machinery is worth no more than old iron. Nevertheless, as Lao-tzu says, ignorance of this indicates disease, for Truth, whether a philosophy or life is-"to know what is that you know, and to know what is that you do know- that is understanding." Non-knowledge is the sense of absolute knowledge. Everything that is absolute appears to us as nothing because all we
know we know relatively.
In this context let us try to reason a little bit.-The most powerful determinate s of our financial results are our thoughts and feelings.As Maxwell Maltz discovered, we rarely outperform our self image. Lottery winners end up broke again, and tycoons who lose it all are usually back on top in a short period of time. T.Harv Ecker calls this phenomenon of predictable results the "financial thermostat." The quality of our life is the quality of our emotions. I don't consider myself an all powerful genius who can cure this country of what ails it. However, I will suggest some "cures" that may help our individual suffering in a measurable way. The quality of our life is the quality of our emotions.And our emotions tend to be driven by thoughts of the future we believe in and design for ourselves. Work, struggle and then move forward to purposefully pursue something
qualitatively new! This may sound peachy keen, but think of all these years you have spend developing all your mental habits, and now maybe you are not sure how to change them , even if you wanted to! Here are 3 specific ways ,that can keep your mind aligned with your highest good:
1) Expect the best. Henry Ford said that whether we think we can or can't, we are right. Christopher Howard says we don't get what we want, we get what we expect. Proverbs say"As a man thinks, that is what he is."
2) Live in gratitude for all that you have. If you are willing to commit another 5 minutes a day to
giving thanks, perhaps making a list or saying your prayers before bedtime, then get ready for miracles.
3)Keep things in perspective. You are reading this blog. Think about it- you are living in a time and place so prosperous and technologically advanced that you actually have the education, the political freedom, the leisure time, and the computer equipment(or computer access) to be reading this BLOG! If, I were to ask you frankly to consider all these centuries that have come so far, tell me if you don't relatively speaking live in prosperous times, you have to admit that yes, your
standard of living is probably much higher than if you were to be born at any other time in the history of man(let the women forgive me the saying!). Everybody reading this post lives a life only dreamed by most people in most times.(Even in a terrible recession.) Live in gratitude always. Expect the best. Keep things in perspective. And remember, the economy does not control your life! You do.
As Prof. Russell L. Ackoff loves to say -"The Future is not contained in the past." Let us all hope as Annie says- "We humans are wired to hope. Tap into yours." Our Planet is moving and still exists, so there is always a chance to survive decently, which is also questionable and problematic in recent times!

I couldn't agree more, Annie, about managing one's emotions in the workplace during these difficult times.

Here's a New York Times article about how investors can manage their emotions:

http://www.nytimes.com/2008/09/13/business/yourmoney/13money.html?scp=1&sq=be%20strong%20investor&st=cse

This is an amazing article, I couldn't stop reading it again and again. We often forget how are emotions take over our brain and we forget to look at bigger picture, cherish what we have and there is always greater tomorrow. Your article really puts life and economy in a better perspective. Annie, thanks for such a great article.

The fight or flee instinct can evolve - ironically the simple means of bringing about this change is to notice your breath, in and out. We have the luxury of drawing on the few seconds that it takes to reattach to breath, your feet reattaching to the earth, eyes to the light or darkness around you. Change starts with change, evolution is sometimes the consequence of the simplest revolution. Attach to now.

Annie, It is a very informative and thought provoking article . However your start up line " Most of us can't do a darn thing...." sounds a bit fatalistic rather accepting or perhaps succumbing to the economic maelstorm and the vortex of financial crises which is gripping the world economies.What we need to do is, go for introspection, some navel gazing to understand the flaws.

There are many pitfall in our systems which lead to the downfall of such financial powerhouses like Lehman Bros. Merril Lynch ,Washington Mutuals etc.One of the foremost causes being ,to be in the rat race,earn big moohlas, run for the top slot and hit the brouses no matter how reckless and foolhardy our decisions are?

Let us not forget that when we are dealing with public money, we need to have a think tank with sane, stable and discreet decision makers.Annie, you rightly said "We are what our thoughts are"

Think of the scenario prevailing during the economic boom, few years back. Wall street and NYSE indexes were rising or rather catapulting with no fundamentals.Pay packets and salaries were on the roller coaster, creating a false cacoon of salaried billionaires, with huge stock options and holdings.But some where down the line, there were lot of crevices and bog holes.Many corporates had their cash flows in 'red', but their Balance sheets were glorified with highmuckamuck sales and top line figures. High salaries lead to high expense and consumption rate, which created a boom for retail loans, credit card companies, mortgages ,hire purchases etc.Savings, esp. saving money for the rainy days was on the least priority .We all got trapped in this viscious circle.

Today when there are large scale lay offs, curtailment of salaries and fringe benefits etc. companies going bankrupt, we get cash strapped between the 'income-expense' ratio. So back to your basic question"What can we do now ?"

Relax, accept the change and let this changing scenario seep into our minds.Cut down on frills and superfluous wastrels. Regroup our financial resources, don't go for speculation and follow the basics...yearn as much as you earn.Do budgeting like our grand ma used to do...with no overdrawings or credit lines.

Annie, thank you for bringing the issues to the fore. Your article trully speeks to how our emotions and thoughts influence each other and how our behaviour is really dictated by how we think and feel. Therefore I agree that the selfawareness as you suggest in your article and talking to someone close to us will invariably help us to manage oursleves bether through the economic turmoil.

In the midst of this turmoil,uncertainty and gloominess, we must not allow fear and worry to grip us. Worry comes from an anglo-saxon word that means choke.
The mind is so important to all of us. The bible says that God desires for you to prosper and be in good health, even as your soul prospers. When the soul prospers, we can enjoy a healthy life and prosper in the things we do. The soul is made up of your mind, yor will and your emotions. Guard them properly.
1.Take one day at a time. Dont let the troubles of tomorrow come crashing in today. You have enough to handle in a day.
2. You got to put your trust in our Loving God. He will never leave you nor forsake you. He has a good plan for you. A plan to prosper you and give you a hope and a future. Sometimes with all our titles, qualifications and money we lose sight of God
3.Dont live out of you means. Simplify your life because what you seeis just the tip of the iceberg.
4.Remember to pray to God.
5. Give to the needy, widows, orphans
6. Obey Godin everything

Shaking is taking place. What can be shaken will be shaken. Take a frim grip on God.
Noah, his family and the animals was safe in the ark when the floods destroyed everything around. Get into the arms of Jesus and you will have the peace, comfort and be security.

I am full of peace and God is providing all my needs during this time.
I will pray for you that the peace of God will guard your heart and mind.
God Bless You