The Way We Live Now: beating a hasty retreat. Back to the safety of the economic bunkers! Batten down the fiscal hatches! Hell, we'll take the slow pain of the recession over the fear of the unknown. Safety first!

For a while Wall Street was going up but then Wall Street saw a bunch of "indicators" and now Wall Street is in full retreat. It's just the way Wall Street is. Don't let it fuck with you too much.

Did Wall Street not see the news about all the benefits of this recession? Assuming you have a good job. Also, if you have a good job, there's benefits for you when the recession is over, as well. Pretty much any time is a good time to have a good job. This was first articulated by Adam Smith when he said it in those exact same words, although he never wrote it down, sadly.

The time has come to be conservative, the root word of which is "conserve." Britain is already hunkering down, in fear. Teenagers and retirees alike are looking for summer jobs, but not finding too many. Indications indicate that the indicators are bad, it's that simple. Even second homes for the rich are getting somewhat smaller. Everyone is suffering in their own way.

The important thing is not to panic. Draw down slowly. Smile tightly as you tiptoe backwards out of the party. As soon as you're out of sight, run full speed in the opposite direction. Yes, it's tempting to stick around as everyone else flees in terror and try to boost a few credit card numbers. Don't do it. Staying in one place too long always ends up in disaster. Just ask Grimaldi's.

[Pic via]