Years ago the late, great Douglas Adams wrote a fantastic book about a book entitled The Hitchhiker’s Guide to the Galaxy.  A wonderful mix of comedy, satire, sci-fi, and philosophy, it’s a book that I’ve come back to over the years for a laugh and an ounce of perspective.  In the book, Adams writes that the popularity of his fictional “Hitchhiker’s Guide to Galaxy” stems in large part because it has the words Don’t Panic written on the cover.

It seems to me that with the political and economic chaos of the past few weeks, an absence of panic would be a good start.  So take a deep breath and relax.  Panic has never solved a problem.  The solution to a crisis has never been rash and poorly-thought out action.  We’ve seen this as the stock market (an arena determined almost exclusively by rumor and perception) plummets – even as steps are taken to try to fix it. 

So what can you do as everyone freaks out?

First: don’t believe the hype.  One of the biggest differences between the economic problems now and those of the past is that this time we have 24–hour news channels, bloggers, news websites, and pundit podcasts.  It’s not just a few newspapers and the evening news anymore.  Can you imagine the Great Depression with the running commentary of CNN, MSNBC, and FOX.  All of these “news” sources want your attention and they know that fear and worry gets attention fast.  Simply refuse to buy into it.  If that means turning off the TV and not surfing the ‘net for hours, then so be it.  You won’t miss out on anything earth-shattering.

Second: Think things through and take intelligent action.  There might be value in sitting down with someone who knows about the financial world and that you trust – ask them some questions that aren’t based on fear but are looking for solutions.  Cut back on frivolous expenses if you need to, but it’s probably not time to stuff your cash in your mattress just yet (or maybe it is, but make sure it’s part of a well-considered strategy). 

To round out an article that started with a science-fiction comedy, let’s go to the other end of the spectrum and finish with a prayer that makes a lot of sense right now:

“Give me the strength to change the things I can.  The serenity to accept the things I can’t change.  And the wisdom to know the difference.”