And the good news is.... NYTimes columnist Gail Collins on what's wrong with the economy

[Scuba]

http://www.nytimes.com/2011/09/10/opinion/and-the-good-news-is.html?_r=1




..snip..

Finally, we’re coming to a consensus about what’s wrong with the economy. It’s us. And our bad attitude.

Ben Bernanke says we’re too depressed. On Thursday, the Fed chairman suggested that consumers have an irrationally negative worldview.

Meanwhile overseas, Christine Lagarde, the managing director of the International Monetary Fund, expressed concern that “the world is collectively suffering from a crisis of confidence.” Which is not helped by the fact that nobody can hear the words “International Monetary Fund” without thinking sleazy French pol in a hotel room with the maid.

On Friday, President Obama told Americans to “shake off all the naysaying and the anxiety and the hand-wringing.” He is on the road, following up on the big jobs speech he gave before Congress. It got a pretty good reaction, which would probably have been even more positive if the television broadcasts had not been interspersed with reports that Homeland Security was searching for a trio of terrorist truckers.


.end..

[BootinUp]

1. She's quite clever. Thanks for posting it. nt

[enlightenment]

2. Great. So maybe the Fed should send us

all free copies of Norman Vincent Peale's "Power of Positive Thinking".

Maybe if they tuck a couple of bucks in each copy, we could all buy lottery tickets - thinking positively, of course.

edited to add - I'm responding to Bernacke's comments, not the article, which is very clever.

[DJ13]

3. consumers have an irrationally negative worldview.

Few jobs, rising prices, falling wages, and credit cards with 20+% interest might be responsible Ben.

Not that you would know about ANY of those issues yourself.

[Angry Dragon]

4. I know that 75% of the people would have a better attitude

if Congress passed a bill taxing anyone making over $10 million/yr at 70%
Taxed hedge funds at individual rates instead of capital gain rates
Gave shareholders the right to limit CEO salary

Either get out of the wars or be able to prove that the wars are
worth it. Everyone in DC is so in favor of making regulations
cost effective, do the same for the wars.

I feel this would be a good start in helping the confidence level in this country.

[cantbeserious]

5. What's Really Wrong With Our Economy

http://www.taxresearch.org.uk/Blog/2011/09/08/the-us-economy-since-world-war-2-plotted/

[marions ghost]

6. good graphs

"Don't worry be happy" ....:thumbsdown: doesn't work.

[Tennessee Gal]

7. Lopsided gains at the top.

That is the real problem.

[Zax2me]

8. Attitude? Sounds like a classroom theory to me.

Someone who never had to make a payroll.
Telling us our attitudes are to blame.
Thanks.
Idiot.

[cbayer]

9. K& R