Why the Pilgrims Likely Felt More Gratitude than Thankfulness on Thanksgiving

I sometimes wonder if the settlers who first landed in America in 1620, with whom we celebrate Thanksgiving this week, likely felt more gratitude than thankfulness.

That’s because, as you’ll likely recall, these folks endured a rollercoaster of emotions in those first few months when they touched down on Cape Cod.

Indeed, to say that these pilgrims and settlers were unprepared when they first landed in what’s now Provincetown is likely an understatement.

You see, when the settlers originally set sail from Plymouth, England in 1620, a confluence of events pushed back the travelers’ departure date, leaving them precious little time to prepare for a brutal New England winter upon arrival.

Remember, they only packed so much food on Mayflower, and by the time they arrived in the New World, most of the food they could have foraged had already withered away as the seasons changed.

So then, with food running low and disease spreading, of the roughly 130 passengers and crew, nearly half the folks aboard the Mayflower died in those first few months, with some accounts suggesting that, at their lowest point, only a handful of people were healthy enough to care for the sick.

Now, could you imagine the feelings of despair that these people felt as they huddled up on this ship, likely waiting their turn to die?

But here’s where the story turns good: despite their suffering, as spring approached, the settlers’ fate changed dramatically, and they eventually went on to found one of the most prosperous colonies in America.

Now, much of their change in circumstances had to do with their chance encounter with a Native American known as Tisquantum, who we’ve come to know as Squanto.

It’s worth noting that Tisquantum had already learned to speak English and understood the settlers’ customs after being taken to Europe years before by other traders.

And so, we all know that Tisquantum showed the settlers how to plant corn, how to fish, and how to hunt and trap in the local terrain.

So then, as the crops came in that first year, and the settlers sat back and reflected on their bountiful harvest, can you imagine the gratitude these individuals must have felt for running into Squanto who wanted to help them, of all people, out?

Imagine the gratitude that they must have felt knowing that, had they landed anywhere else, they could have landed square in the sights of a hostile Native American tribe capable of easily wiping them out.

And how much gratitude must that colony have felt following the formation of an alliance with the Wampanoag tribe to fend off hostilities from other nations?

You know, in a way, the pilgrims and settlers stared into the abyss and endured hardship in those first few months but miraculously came through on the other side ready to fulfill their mission.

Thankful?

No doubt.

But I’d like to believe that, as the Pilgrims, settlers, and their Wampanoag friends settled in after their abundant harvest in November 1621, they looked back with a sense of deep gratitude for all they had endured, and a set of chance encounters that enabled them to fulfill their destiny.

Gratitude for 2023

Certainly, the settlers were thankful that, with the help of their Native Americans friends, they were well-prepared to endure another harsh New England winter.

But more importantly, it’s hard not to believe that, after having experienced chaos, heartbreak, and what must have felt like impending failure of their project, the colonists likely felt an overwhelming sense of gratitude knowing that their experiment still had hope.

Now, as we gather with friends and family this week, we have the opportunity to take stock and, after offering our thanks for what we have, express our own gratitude for coming through multiple periods of what seemed like our own descent into the abyss this year.

To be sure, while today is an appropriate time to give thanks for the good things that happened this year, it’s also a time for deep reflection and gratitude.

Here are three things that I’m grateful for this year:

Why I’m Grateful for the US Financial System

First, I’m thankful for a banking crisis that was halted in its tracks. Now, you’ll likely recall that in early spring, the failure of Silicon Valley Bank led to failures among some other mid-sized banks and sparked concerns that rising interest rates could lead to a banking crisis the likes of which we had not seen since 2008.

Fortunately, this worst-case scenario did not materialize.

And while it’s true that the assets held by banks that failed this year have surpassed levels last seen during the Global Financial Crisis, quick acting by policymakers, investors, and other larger banks arguably helped to fend off a larger cascade of lack of confidence selling.

Ultimately, had a similar situation taken place in any other country, I’m not so sure that financial markets would have been as resilient as they were to the uncertain developments in the US earlier this year.

That’s why I am grateful for the privilege of living in America, a first-world country that, with all its blemishes, did not see a flight of capital this year and retains the position of the preeminent investment destination in the world.

Why I’m Grateful for Higher Interest Rates

Another development that I’m grateful for is the fact that inflation is finally beginning to show signs of cooling.

Now, make no mistake, prices for many of the goods and services we consume are still higher than they were three years ago. But the fact is that the rate of those price changes is starting to slow by some key measures, albeit at an uneven pace.

For example, energy prices this year are largely flat, while the pace of food price inflation fell to a two-year in October. In fact, according to data from the IMF (International Monetary Fund), energy prices on a global scale are actually in the decline this year.

And these moves come as prices of other key goods, like homes and autos, are finally showing signs of cooling nationally.

Now, it’s worth remembering that these moves come on the heels of some of the most aggressive rate hikes we’ve seen from the Federal Reserve in some time, which suggests that higher borrowing costs are finally putting the damper on some excesses in the US economy.

Are we out of the woods yet? It’s too soon to tell.

Indeed, time will tell whether slowing inflation is here to stay, but for now, I’m grateful for the fact that higher interest rates have arguably done some good after causing so much damage, and potentially, finally, setting the stage for a sustained Fed Pivot rally two years after it started.

Why I’m Grateful for a Return to Normalcy

Finally, I am grateful for a year in which it seems like we’re finally turning a corner away from firefighting and crisis intervention and towards the return of normalcy.

Certainly, the potential for a broader military conflict involving the US in Europe, the Middle East, and Asia is enough to keep most people up at night.

But, the truth is that, while these conflicts loom large over our heads, for the first time in three years, our family finally attended school events, travel, vacations, and other public excursions without even thinking about the pandemic.

And while our household has been dealing with one bug or virus literally every other week since the kids went back to school in August, we are grateful that we’ve been able to manage symptoms with over-the-counter medicines without worrying about whether our being ill could turn into a broader health complication.

Being Grateful vs. Being Thankful

You know, when I sit and reflect on everything we’ve been through over the past few years, especially living many days not knowing what was coming next, finally being able to see the light at the end of the tunnel this year is something that I’m not just thankful for, but I’m genuinely grateful for.

Indeed, when it comes down to it, gratitude often goes deeper than simply saying “thanks.” It’s often an outward expression of genuine appreciation for the people and the circumstances in our lives.

And, as Melody Beattie puts it, “Gratitude turns what we have into enough, and more. It turns denial into acceptance, chaos into order, confusion into clarity…it makes sense of our past, brings peace for today, and creates a vision for tomorrow.”

So then, as you gather with your loved ones and give thanks this holiday season, be sure to take the time to dig deep and consider what you have to be grateful for this year.

To be sure, this practice is not just about recognizing good things that have happened but, involves a deeper appreciation that permeates your attitude and approach to life, which ultimately enables you to take one step closer to becoming the master of own your financial independence journey.