A BRAVE NEW WORLD
18 September 2008 | 1:13 PMSummer has ended and half way through September we all find ourselves in a new world distinct from how the summer began. The financial uncertainty of the equity markets and continued challenges of our housing market are upsettingly developments that affect all of us. I take comfort however in the wisdom of experience shared with me over many years by my father, Ray, who as a young boy was raised during the Depression. During the course of his life he was not just a witness but a participant in some of the most challenging events of the 20th Century: surviving the Depression, World War II, the Recession of 1973/74, and the resignation of a President causing the very stability of our constitutional system to seem at jeopardy. Each of these events redefined the world in which he was living and raising a family. They provided plenty of bleak periods as the world he understood was in his rear-view mirror and the road ahead leading him into uncharted territories. And yet he survived and flourished, as did our government, banking system, and nation.

These are challenging times to be sure. It has taken many years for us to dig our way into this situation; years will be required for it to settle out and be repaired. Few will escape the fallout. But the resourcefulness of people to adapt should never be underestimated, especially Americans. The qualities that underwrote the success of this nation – hard work, sacrifice, innovative and creative thinking – will be just as prized and important if not more so going forward as in the past. Difficult times such as these usually refocus our attention on the core values that, at the end of the day, provide the most meaningful elements of a good life. This time will be no different.

I think often of the sadness experienced by a young boy growing up on the dusty plains of Oklahoma in the 1930s, who went out to feed the cows he tended only to find them lying upside down dead, hit by lighting the night before. I think of the uncertainty and fear of a teenager landing on desolate stretch of beach in Japan with bullets whizzing by, dead comrades at his side. I think of a husband and father trying to raise a family with three children, during and unrelenting recession centered on the very industry in which he was engaged, struggling to meet their educational needs and trying to provide for them the opportunities he never. Overcoming each of these challenges required courage and a conviction that better days were ahead. That’s why we often call them “The Greatest Generation”.

These kinds of difficult times forge people of great character. They also require courage and will, I am sure, result in new leaders emerging. And perhaps – and I hope – create a new “Greatest Generation”.























