The father of modern economics, John Maynard Keynes, was once asked in a debate how he justified changing his mind on certain key issues of his day. Keynes replied “When the facts change, I change my mind. What do you do, sir?”

All told, it was a tough week on Wall Street, though two of the three major indexes posted weekly gains. The S&P 500 posted a weak gain of 0.1 percent and the Nasdaq Composite was up 1.6 percent, but the Dow Jones Industrial Average was off 0.6 percent.

Expedition officials compared the act to Neil Armstrong’s planting of the American flag on the moon, and the US Geological Survey determined, to a degree that should satisfy United Nations Convention on the Land of the Sea requirements (should the US eventually ratify it), that there’s not much ground for resource disputes in the area.

The circumstances are always different, but the emotions are the same in bear markets: Despondency, despair and fear that the worst is yet to come. The good news is it’s never as bad you think. But navigating your way through bear markets is as much a part of successful investing as making the most of bull markets.

Predicting the price of oil next week, next month or next year is about as Quixotic a venture as can be undertaken by even the most diligent expert. And engaging in such forecasts is even more counterproductive for individual investors focused on the long term; you don’t enjoy the romance of headline-grabbing statements or electric cable TV shout-fest appearances, and, most important, it’s an impractical exercise.

Why is it that we can’t seem to allow another country to be successful without demonizing it? Next week marks the beginning of the Summer Olympics in and about Beijing. Although many of us might not care about the competitive sports, we do seem to have an insatiable appetite for news and commentary that takes pot-shots at the Chinese.

If there’s one factor that’s catalyzed the recent selloff in crude oil prices, it’s declining oil consumption from developed-market economies.

We’ve had a choppy week on Wall Street as traders continue to seek some direction from both positive and negative news. All three of the major indexes are relatively flat this week. The Dow Jones Industrial Average sank 0.4 percent, the Nasdaq Composite ended the week flat and the S&P 500 tacked on 0.2 percent.

Plenty of supposed smart-money players have ignored China’s instructive trends.

The raw numbers are impressive: A report by the US Geological Survey (USGS) found that 25 areas inside the Arctic Circle contain about a fifth of the world’s undiscovered but recoverable oil and natural gas reserves.