Okay, a second post for today, this one from a visit to one of NYC’s free morning papers, A.M. New York, and a column by Todd Harrison titled, You need a storm to experience the calm.

The stock market has been a bipolar stroller this week, and it’s freaking people out.

There are many ways to view the seismic shift we’re witnessing: anger (as expressed by Main Street), sadness (as savings are destroyed), fear (as reality bites) and confusion (as folks try to understand how this could happen).

And there’s anticipation as we cast an eye forward and look for the phoenix that will eventually arise from the scorched earth.

The capital market destruction is a cumulative result of risk gone awry. It’s been percolating under the seemingly calm surface for years, magnified by financial engineering and consumed by an immediate gratification society.

Mother Nature has unleashed her wrath as she explores the other side of the business cycle that politicians have tried so hard to avoid. It’s certainly scary, as new beginnings typically are — therein lies the opportunity.

The media portrays the Great Depression as a time when everyone in America stood on street corners or waited in a bread line. A closer look shows that, similar to our current situation, economic hardship for the middle class began well before 1929.

We’ve got a few lean years ahead, but that’s nothing to fear. In fact, it’s a healthy and positive progression. To get through this, we need to go through this, and as painful as the process is, it takes us one step closer to an eventual recovery.

I view the Great Depression as the framework for optimism. Most of society worked, great discoveries were made and formidable franchises were established.

Disney (DIS) built a global franchise through that period.

Hewlett-Packard (HPQ) was born on the back-end.

Texas Instruments (TXN), Tyson Foods (TSN) and Continental Airlines (CAL) were birthed.

Read the rest. It’s nice to get a positive commentary on one of the gloomier aspects of our grim economic picture.