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Aug 01, 2008

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Danny Gamache

Very interesting.

I personally think that the US recession is an example of a self-fulfilling prophecy amplified by the election.

The media talks all the time about how bad things are, so people stop spending their money, but making the initial comments true - whether or not they were to begin with.

Michael W. Kruse

One of the things I still find confounding is the amazing amount of negativity and pessimism I continue to hear from people about all sorts of stuff, yet if you look at most indicators (not just economic) we actually are in pretty healthy situation. Surveys now routinely show people reporting that their own situation is fine but they perceive that everyone else is suffering. (And that is not to say that there are not pockets that are in hard times.) It really is quite amazing.

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