The S&P 500 kicked off the year at 5,868, and despite all the noise, it’s barely budged.

If you’d taken a 5-month vacation, you might assume not much has happened.

But as we know, that’s far from reality.

In times like these—when headlines are loud and markets are jumpy—the old narrative tends to resurface:

We’re told that the challenges we face are uniquely disruptive, threatening to derail the long-term growth we’ve come to rely on.

This year, that narrative has centered on tariffs and trade tensions.

And while it’s natural to feel uneasy, it’s worth remembering that we’ve heard this story before.

So today, I want to revisit a few past “this time is different” moments and explore what actually happened.

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The Pattern of a Crisis

When major events dominate the headlines, it’s easy to feel like we’re facing something entirely new.

The media often reinforces this by calling the moment “unprecedented,” pointing to fresh details—new catalysts, unfamiliar players, or unexpected ripple effects.

But while the surface of each crisis may look different, the underlying pattern is strikingly familiar:

1. A disruptive event hits.
2. Markets fall and fear spikes.
3. Markets recover and move higher.

Since 2000, we’ve seen this cycle play out time and again:

• Y2K: Fears of a tech meltdown as the calendar turned to 2000 had the world bracing for chaos.
• 9/11: The terrorist attacks shocked the nation and rattled markets.
• 2008 Financial Crisis: A housing collapse and banking meltdown led to a global recession.
• U.S. Credit Rating Downgrade (2011): The U.S. lost its AAA credit rating for the first time, raising questions about its financial credibility.
• COVID-19 Pandemic: A global health crisis halted the economy and triggered one of the fastest bear markets in history.
• Tariffs and Trade Wars: More recently, shifts in trade policy have sparked fears about long-term growth and stability.

Each of these moments was billed as potentially catastrophic.

Each time, investors were told to brace for permanent damage.

And each time, markets recovered—often sooner than expected.

Rather than undermining faith in long-term investing, these episodes should reinforce it.

Discipline, patience, and staying the course have consistently proven to be the most effective responses to crisis.

The Economy and Markets Are Built to Endure

We’ll face more unsettling events in the future—there’s no doubt about that.

But through it all, two enduring forces help explain why markets continue to recover and thrive over time:

1. Corporate Innovation and Adaptation

Around the world, thousands of companies continuously innovate by creating superior products, addressing emerging challenges, and discovering more efficient operational methods.

This ongoing evolution creates real value for consumers and investors alike, and it’s a major engine of long-term market growth.

2. The Human Drive for Progress

Even when headlines are grim, people remain focused on building a better tomorrow.

That steady drive—to grow, improve, and create—has led to remarkable gains in global wealth, living standards, and economic resilience.

Together, these forces have powered decades of extraordinary growth in both the economy and the stock market.

Regardless of what unfolds, I hope that understanding the persistent nature of these trends will help place the next crisis in its proper historical context.

Because, while it always feels like “this time is different,” it almost never is.

Stay wealthy,

Taylor Schulte, CFP®