Bernanke Tries to Decide What Next

The stock market volatile – imagine my surprise – but a recently headlined article on Marketwatch.com reminds us that consumers think it’s going to get worse.  Of course consumers think it’s going to get worse – the media keeps telling us it is going to get worse.  Even good news is buffered by some footnote as to why this is an exception to the bad that’s yet to come.  And if the media tells enough people, and talks about it long enough, eventually the American public begins to believe.  After all, if it can work for presidential candidates like John McCain…

So is the economy bad?  Yes, it’s terrible.  This is the worst thing that could have happened to America at the worst time.  It’s caused market upheaval around the world and some analysts think that it would be worse right now if we knew what to look for.  Fortunately, or not, depending on your view, the Wall Street shenanigans are as difficult to unravel as they were successful in their profiteering during the good times.  But, the media is missing something very important – we, as people and as a country, will recover.  And if history serves as a measuring stick, we will recover relatively quickly.