Nexus: Chapman's Journal of Law and Public Policy

As the great Monty Python has said, “always look on the bright side of life.” While Americans in the current economy have focused their energies on the negative aspects of the recession, there is something to be said about maintaining an optimistic outlook and finding the positive facets in a dreary situation. Indeed, several pundits have likened the present economic downfall to that of the Great Depression in the early 20th Century, sparking feelings of desperation, hopelessness and fear among the population. While these feelings are certainly legitimate, Americans should not linger on the pitfalls, but rather pull themselves up by finding light in the dark economic tunnel. While it may be difficult to see benefits of the current recession, let me suggest a few that might spark, even if momentarily, a glimmer of hope that things aren't all bad.

Investments. If you have never taken risks on real estate or taken a plunge in the stock market, now would be an excellent time to consider your options. Many solid stocks have taken a dive, but economic trends should prove that in time they will rebound. Make the recession work for you and buy while the market is low. Invest in real estate. It is a buyer's market right now, and a well-researched purchase could reap great benefits in the years to come. Work with a financial planner, many are offered as a free service to bank and credit union customers.

Sales. I am by no means a shopaholic, but I can't help but notice that so many companies are offering great discounts or promotions on their merchandise or services to try and stimulate their own business. Free admission to Disneyland on my birthday? I'll take it! 20% off at my favorite store? Great! While I don't suggest going on a shopping spree, take advantage of savings on items you would normally purchase.

Life lessons. If you don't have the money laying around to make investments, there are several positive lessons you can glean. Never budgeted before? It is a great opportunity to set a fiscal plan for yourself, learn how to manage the assets that you do have and learn how to save. This lesson is not only good in a recession, but good for life! Good money-management skills will benefit you when times are low and when the money is rolling in. Stick to your budget, cut out unnecessary expenditures, and learn this great lesson in responsibility. Another lesson to be learned? You will survive. Money, while nice to have, isn't everything. Sure, times are glum, but reflect on the things that you do have. Do you have a loving spouse? Family? A dog? A favorite hobby? Good health? Did you laugh today? The list goes on. Living a fulfilling life extends to more than how much money you have in the bank.

While recessions can provoke stress and headaches, history has shown us that we don't have to be in a slump forever and while times might be hard right now, it can get better!