But the American economy is premised on those absurd hopes and desires, and won't prosper without them. I can think of no better time than right now to go ahead and be absurd.
The capital markets present a special case because many of the people in them have been directly affected, and because the prices they set are so important. There will be a powerful urge to follow the noble lead of William J. Nutt. But the national interest isn't to artificially prop up the stock market for a month or two with patriotic sentiment. The national interest is to get, as soon as possible, market prices on US stocks and bonds -- that is, prices that reflect the new reality, and that are, therefore, reliable signals to the rest of the economy.
When the financial markets open today it will not be business as usual. The desires that govern them in normal times -- fear and greed -- will be joined by another feeling: that one should do something.
Probably the best thing you can do if you trade stocks and bonds for a living is to ignore this feeling and direct it someplace else. Make as much money as you can, or avoid losing it.
If at the end of the day you feel guilty that you haven't incorporated your love of country into your trading decisions, give the money you have saved as a result to the New York Police & Fire Widows & Children's Benefit Fund.
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