The economy, it seems, has gone to hell in a hand basket and everyone is running scared. The national news is reporting that no one can get loans, from big corporations to the little guy looking for a used car. The world economy is faltering and saddest of all, the ultra-rich are feeling forced to distance themselves from their extravagant toys, not because they can’t afford them anymore, but simply because of the heat is coming down on them for spending while everyone else is hurting. Even with a nearly thousand-point resurgence in the stock market, they’re saying that the effects of the last two weeks will be felt for months to come. And then there are the problems we had before the market tanked, like high gas prices and crumbling mortgages.

That said, uh, I’m really kind of doing just fine. How are you? Here in Dubuque, your life right now, today: Is it that bad? Tough times are gripping many people nationwide, but I can’t say that the squeeze is hitting me. Of course, I got my new house loan last month and the car, too. But so far no one has called asking for the money back and the car is still in the driveway. And as I look around, other than the fact that my poor staff are grossly underpaid and overworked, I don’t see it hitting others so terribly bad either. None of us are rolling in piles of cash with supermodels either, but then again, maybe that is the issue? Is this a problem that is going to really put the screws to us all, or is it just those who stuck all their money into AIG or cornering the market on frozen concentrated orange juice? As a decidedly not-wealthy person, I don’t have stocks to worry about. So until this trickles down and raises the price of bacon, the volatility of Wall Street is just a t.v. show for me. I realize that is not true for everyone. My condolences to Randolph and Mortimer Duke.

My wife is worried about her 401(k) being continually worth far less than she put into it. But it’s short-term fear. The younger you are, the less worried you should be about the market’s tumble. In the long run, it will all even out and you’ll end up well ahead, I have no doubt. But if you were looking to reap your market rewards soon, well, you might not want to clean out the desk just yet.

One of the biggest arguments against the economy today is that people are playing with fake money, electronic funds. Where does it come from? It’s like money makes more money. It used to be that people made cars and shoes and whoopee cushions and people bought them and they made money. Now the money just gets traded around and no one seems to make anything anymore. The progress, the gain, is fleeting and intangible.
In Dubuque, I think the progress is not fleeting and is most certainly tangible. I look around and see excitement and prosperity, as our civic and cultural fortunes rise year by year in the eyes of those who measure such things, best small cities in America, greenest communities, best places to raise children and the rest, our investment value rises, too. Look at all the new construction in our community. With the winter opening of the massive and ambitious new Diamond Jo Casino, the Port of Dubuque and America’s River Phase II put yet another feather in their cap full of feathers. And the Greyhound Park is growing again as well, to match. McKesson is expanding to new digs soon and rumor has it that a new interest is in town as I write this looking at the Dubuque Building, McKesson and Durrant’s former home, for new investment. Durrant too recently joined the excitement in the Port with its “new” facility, actually a re-visioned purpose for the former Adams Company building. The Hotel Julien will make your jaw drop when it opens its doors again soon and that multi-million dollar investment by the Fischer Companies, Dubuque’s largest property owner, says volumes for future potential re-investment by them, which is far more important to the future of Dubuque than I think most people realize.

For me, dinner on Main Street last Saturday night, before I had to perform with my band later, was a telling experience. The street was absolutely bustling. There was an excited energy and activity that just made you want to be part of it all. People not only filled the dining booths visible from the sidewalks, they also poured out onto the streets in conversation, planning their night or waiting for a table to open up. It reminded me of the transferred film I have of Dubuque in the ‘20s. People and cars filled downtown Dubuque like you see in movies of New York or Chicago. The place was rockin’ and it is again.

Once again we get to the “what the heck is your point, Bryce?” portion of our journey. The point is don’t buy into rhetoric, don’t pass on the rumor that the sky is falling and don’t get caught up in the drama of the economic “end of days.” Like we have done in the past couple of years with a nationally poor housing climate, Dubuque is powering through the muck with its head held high and you shouldn’t be afraid to continue your investment in our town. Smart growth and good leadership has put us in an enviable position even within this tight time in our nation’s history. The only way we can falter is if we start believing those who want to tell us from the outside that we’re in for a fall.