Expectations Matter

Much is being said (and felt) about these current uncertain times. I certainly feel it along with the rest of you. I am finding that in conversations I am often hearing about jobs being lost, hours being cut, pay being reduced; but rarely am I hearing about someone landing that plum new job--or any new job for that matter. On the downside, the news can seem rather grim. On the other hand, I have been hearing a lot of comparisons to the job market in 1982.

Maybe I wasn't paying attention, but I do not recall the job market being a huge, depressing issue back in 1982. (Those of you who were in the marketplace then may recall things differently. But I was just graduating from college and do not remember a widespread angst among my peers.) How much of what we are feeling as a country is being driven by what we have come to expect? Does the current economic situation feel so crisis-like because we started to expect that the trend line would always be up and to the right? Might we feel somewhat different if we expected that life will be difficult?

I think that it would make a difference. It might not change the underlying realities of job losses, declining compensation, and reduction in home and portfolio values, but it may change the way we think about these things. I find that if I expect something to be difficult--and it turns out that it is--I am not devastated by that reality. It is simply what I expected. It is when I expect something to be easy and it turns out to be difficult that causes the turmoil.

Some people have asked at various times whether I think that I will try another marathon. They learn that I ran one and are perhaps curious how that experience will influence my decision to try another. It really cuts both ways. Having completed one, I am confident that I could complete another. Knowing the reality of what it took to complete the one makes the decision to complete another more costly. Actually the cost will be the same--I just know what the cost is.

I believe that part of what is so daunting about our current economic situation is that we do not yet know how deep the hole/how high the mountain (insert your favorite metaphor) will be. If we simply knew what to expect, then that would make it easier to persevere through the tough times. But of course, if we knew what was coming next, would that leave room for faith?

Pressing On!