It's all about perception driving reality. If we perceive that things will get bad, then we take steps to ensure that it does.
There's no question that the economic troubles are real, but for example, look at the banking industry:
An economist tells them to be careful, because an economic downturn is coming. They are then very careful, and slow giving out credit that is needed by both consumers and businesses; in turn, the machine slows down. The news media picks up news of "the coming" recession, consumers freak out and stop buying things, and the whole economy locks up.
It was all caused by someone thinking that things were so good, they had to get bad. Remember all the talk about the "bubble?" Quite an irony in that.
No one has yet explained why there can't just be sustained growth.
Perhaps we should let control of economies be handled the cold and ruthless. No, not the Democrats, but rather by computers. Like Democrats, they have no heart, but but unlike the Dems, they use cold, hard logic. Especially, they have no fear for reelection . We should program the computers for growth and wealth, and then lock them down and let them do their thing. Congress can become the sideshow that it really is. We'd never have another recession. Just growth.
Humans are always the problem, especially to ourselves. It seems we'll never learn that lesson.
Sci Fi movies like The Terminator always show a bleak picture of humanity dominated by robots bent on quashing human existence, but I'm not so sure. I'd bet anything The Terminator could run the economy a hell of a lot better than Obama, Geithner and the rest have done.
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