14/04/2020 by First Tier Co-Founder Eric Mudoni
Hope Through A Great Depression
Seemingly, within a blink of an eye, Humanity has stepped into a new world. The devastating covid-19 infiltration has hit just about every nation on the planet. And in stealth, we may very well have ushered in the 4th industrial revolution, but that’s for another time. There are major worries about the global economic crises that we’re fast heading into. Some argue that it could be reminiscent to the Great Depression of 1929?
If so, what were some the effects on everyday lives and is there anything we can learn from that dark era? Well, the 1929 downturn, continued well into the late 1930’s and lasted until the beginning of world war 2. It caused the highest unemployment rates the world had ever seen and Wall Street was in complete disarray.
The US unemployment rate plummeted to 23% followed by the rest of the world of up to 33%. Scores of millions had lost their securities and investments. International trade fell by more than 50%. Some documented accounts to come out that dark era, spoke of how the US government, had permitted only 1 adult per household to work. Many lost their homes.
One account, was how as many as 19 people, lived in one small town-house. Much like now, these dramatic economic conditions can have a paralyzing effect on our ability to lead, to find strength and have hope. However, reflecting on the painful process of natural child birth or having experienced death of a loved one, we discover something truly remarkable. A strength gifted to humanity, to push through and overcome many of the most trying of conditions.
The responsibility of literally saving humanity from calamity, is weighing heavily on world leaders and is just too great a burden to bear. Which begs the question; Is faith too old fashioned? Over the years, this has been the post modern sentiment. Looking at international news outlets and the world around me, it sure looks like faith is making a comeback. Someone once said “I do not believe in what others believe, I believe there’s always a leader. Therefore, I believe there’s a God.” One could say that many world leaders today would not frown on that statement, as we witness them turning to prayer…….
It is interesting, yet heart warming, to see the role and elevation of spirituality and faith in these trying days. Not being used as a crutch, but a cornerstone for divine comfort and assurance. The term, “Survivalist”, find its roots from the Great Depression of 1929. Entrepreneurs with very little resources had to dig deep to survive. Most sold micro goods and services like 5c cakes, as did the McKee family, from the family car. There are survivalist that became among the worlds wealthiest. Some billion-dollar families, owe their entire fortunes to young businesses that started during the Great Depression.
Those family legacies still stand tall to this very day. Here are are a few:
- The McKee family - Their descendants now run the company. Little Debbies Cream pies, worth an estimate $1.4 billion.
- The Boyles family started Columbia Sports Retailers, worth an estimated $2.1 Billion.
- The Marriott family - Marriott International hotel group, worth an estimated $5,7 Billion.
Here’s what a client, Balmont Tshado, recently wrote:
“Just after installing supersonic fibre at my place, the president implemented a 21 day lockdown. I had just started homeschooling this year and what an excellent and efficient service I received” He did what some of us will have to learn. He learnt how to pivot. With Belmont’s new income source, he is carving a new future for his family. To accomplish this successfully, you may need to develop and learn a new skill and/or seek an experienced mentor to coach you along the way. The good news is that the current difficult conditions of change, are ideal for shifting and shaping. Inspiring new ideas and innovations.
The South African business and employment landscape has changed over the last decade. We have shown resilience through the last economic downturn of 2009. But now we face our greatest challenge yet. A virus threat to our very human existence and in its slip stream, an economy on the brink of seeing lows as never seen before. It is important to note that suffering loss, could be unavoidable. We need to recognize that a pivotal moment has begun and to view it as the beginning of a brand new chapter in your book of life.
- It could be time to Re-align and Re-focus.
- Shake off negative energy and thinking.
- Pray, Be Patient and Be Present.
The only resource we may have left, is faith. But it is here that we can draw tremendous Strength, Encouragement and have Clarity of mind to see the steps ahead. It is here, we can see the need to re-prioritize our lives. It is here we may come to a realization that time is not prodding along aimlessly. That it is leading somewhere and we owe it to ourselves to discover where we are heading. Perhaps in the final analysis, our thought life will be our greatest asset.
Today, aim to be a Pathological Optimist, grounded in faith and together, let us meet on the other side of a brighter future.