We have come to this hallowed spot to remind America of the fierce urgency of now. - Martin Luther King Jr., I have a Dream Speech, 1963
The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy - King, Strength to Love, 1963
I doubt that we will ever see two days in a row in modern times that link the two African-American orators of our day like Monday and Tuesday of this week.
How will these days affect the US markets? Of course no one knows.
What is clear to those celebrating the holiday this Monday was that King went to the mountaintop and saw the other side. His message was a message of hope in the midst of endless despair. And for many, by noontime Tuesday, they will have "reached the promise land."
You have seen a political campaign this year like none other. The issues changed along the trial, and by October, the economy was center stage. But well beyond the financial issues, the voters cast ballots for the ideologies of "change" and "hope."
And yet the majority of reporting today on our financial markets, our banking systems, and world economy attempts to paint a dismal scene. But the US taxpayer, the coveted consumer, and the small business owner, remembers the words of President John F. Kennedy. He called Inauguration Day "a celebration of freedom - symbolizing an end, as well as a beginning - signifying renewal, as well as change."
The majority Americans are no doubt ready to concretely embrace that change and choose hope over fear. They are looking to leaders that can inspire confidence, renewal, and resolve to meet the challenge and controversy of now.
You've seen the consumer confidence rebound last week.
You've seen banks failures subside and additional funding released to help if needed.
King knew, Obama knows, and you probably know that no matter the facts and data, the human psyche is the most bizarre, illogical trait of your existence. It enables your extrasensory perceptions, encourages your drive, motivation and judgment. It feeds your emotional balance and frequently permits you to undertake feats that your conscious being could never even conceive.
So more than the financial data and beyond the bank bailouts and stimulus sizes, today indeed will mark an historic turning point in our country. A turning point for those waiting for generations for this day. And no doubt a significant turning point for the financial psyche of our people.
