by Donald J. Trump,
Author of Think Like a Champion: An Informal Education In Business and Life
What transpired on Wall Street on September 15, 2008, is one day for the history books. I had predicted this would happen about two years ago and again about eight months ago when I appeared on Neal Cavuto's show. That the landscape of Wall Street could be altered this rapidly is something we should think about. September 15, 2008, was the worst day on Wall Street since right after the 9/11 attacks, with a fallout of some financial giants that we thought were untouchable.
Here's my view of this situation. We survived and prospered after 9/11, and we will do the same this time. The components are different, but I believe the government is doing the right thing with this financial mess. They have worked hard and long, but a mess is a mess. I won't equivocate on that. I saw the indications that the world was in for a tough period of time, so I can't say I'm terribly surprised.
Here are some points to consider. The price of oil, which is the life blood of all economies, is down. That's good news. I've already written about that subject and about the many tankers full of oil treading water and going nowhere.
Out of chaos comes reinvention. That can be a good thing, although it won't be easy. There appears to have been a lack of balance, and this is one way of starting something new that might be more effective. Necessity creates a place for creativity, and having the facility to implement a plan B strategy is something everyone should strive for. I've learned that having a plan B is common sense. We'll just have to come up with one, and it could eventually be better than what we've had.
As a Manhattan real estate developer, my observation is that there will be more people looking for jobs than will be looking for apartments. That's not great news for the real estate market in New York City, but it's not dire. A lot of things are and will continue to be changing, in our country as well as around the world. There is a well-known Greek motto that I think is pertinent to today's economic situation: "The sea gets sick but never dies." The Greeks have been around for a long time and they've watched the ebb and flow of history for many centuries.
Remember that things are cyclical, so be resilient, be patient, be creative, and remain positive. Reinvention can be a good thing for everyone.