Few Seem to Believe Economy is On The Right Track…


There is a famous and very cynical saying attributed to various dictators (and perhaps to all of your political opponents of any stripe) that holds that if you tell a big enough lie, people will eventually believe it. Currently, the “pumpers” are claiming we are undergoing a meaningful recovery after a recession that has ended. Rosy times are ahead.

Folks aren’t buying it according to this article on American Thinker:

“This also mirrors the latest Rasmussen surveys indicating just 26% of Americans believe the country is headed in the right direction.  
The public is also acutely aware of the overwhelming debt the country is experiencing and its long term implications as well as the complete lack of any meaningful job creation while daily living costs continue to rise.  They also have little faith in those in Washington D.C. (living in their comfortable bubble) who continually propose even more useless and overwhelmingly expensive government programs and are dumfounded when they do not work.  
The general public has figured out that these folks do not have a clue on how to fix the nation’s problems while being told the economy is on the mend and headed in the right direction.  Until confidence begins a major rebound there will be no improvement in the real estate market or the economy as a whole.  It is very difficult to believe that will happen with the current people in charge.”

It seems that Americans know precisely what happens when you live beyond your means and they know that that is exactly what Washington and Sacramento (plus a lot of other state capitals) are doing. It explains the origins of the Tea Party and the huge crowds that turn out for fiscal sanity rallies and the dinky crowds that turn out for pro-spending rallies. It also explains lack of support for Democrats and their union allies in Wisconsin. It is hard to push the idea that high-paid teachers should continue to get high pay when the schools in the nation are getting worse, not better. It also confirms my theory that far more Americans today have taken business, statistics, tax and economics classes than in the past (note the number of business students in all of our lives) and they know exactly what fiscal folly does. The author is correct in pointing out that confidence is needed prior to a real recovery. But there has to be something tangible to be confident about, before confidence will return.

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