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Economic Optimism and Confidence

Tune in to any news broadcast or pick up any newspaper and you are likely to learn the latest sobering statistics regarding the state of our economy. The dismal array of stories is sure to cover the current rates of foreclosure, bankruptcy, unemployment, Wall Street losses, business failures, etc,.

Some "forecasters" even go as far as saying that "this is the worst economic crisis ever" and that "America is headed for Third World status." Crime rates, homelessness, starvation and so on are all expected to reach unprecedented numbers. Predictions also include the beginning of World War III…realistic or mere speculation, these scenarios do instill a sense of fear among Americans.

President Barack Obama's top economic adviser, Lawrence Summers, said the nation's economic crisis has led to an "excess of fear" among Americans that must be broken to reverse the downturn. In the meantime, a problem has been that "fear begets fear." "It is this transition from an excess of greed to an excess of fear that President Roosevelt had in mind when he famously observed that the only thing we had to fear was fear itself," Summers said. "It is this transition that has happened in the United States today."

Summers, when asked what the nation's business community could do to help speed the recovery replied, "What we need today is more optimism and more confidence."

Do you feel optimistic and confident?

You're not likely to feel very optimistic or confident if you make it a daily habit to watch or listen to news broadcasts or to read the paper. Take your typical broadcast, 90% of the stories and features revolve around crime, scandal, destruction, unemployment, financial duress, failure, and just plain bad news. Leaving only 10% (or less) to cover the good news; which usually occurs at the very end of the broadcast, but at least they end on a positive note.

Reflect on how you feel after ingesting the daily news. Do you feel good? Do you feel encouraged, inspired or motivated? You may think that this onslaught of negativity doesn't affect you and that you are able to stay neutral. After all, most of stories and issues covered have nothing to do with you; you just want to be informed. Actually, they have everything to do with you. While you are becoming 'informed', your subconscious is picking up and storing the low, energy sucking vibrations which greatly influence your thoughts, emotions and behaviors and play a huge role in how you view your world.

News Fast

A personal challenge, go on a news fast. For a set period, say 30 days, stop watching, listening to or reading the news. Yes, it is important to be informed and educated on current issues. But ask yourself, are you really getting actual, non-biased facts from these news sources? Or are you getting hyped-up, embellished, personal agenda-slated, sensationalism? (Tactics that are commonly used to keep you tuned in).

If you want to be informed on certain matters, research them on the Internet; you don't have to wade through a bunch of garbage to get to the issues that are truly important to you. Be mindful, however, that you can't always believe everything you read or hear. Even though we, at Legacy, don't promote cynicism and skepticism, we do promote being judicious, as well as objective, open-minded, and above all, optimistic. That doesn't mean to turn a blind eye and be blissfully ignorant, but to surround yourself with as much of the good news as possible. You may have to look beyond your typical news sources to find it, but it's out there. You may be surprised at your renewed outlook on life and confidence that things will get better.