Fear is a virus, economically speaking. There's a saying that goes, "When the U.S. economy sneezes, the global markets catch a cold."
If that's true, than the U.S. economy's sniffles are because of the American consumer's fear. But where does the fear come from? Shit ... don't ask me. It might have something to do with the chicken-littles in the media who barely understand the terminology of economics let alone the reasons for the economic meltdown.
Last week it was AIG execs, the week before, Bernie Madoff, before that, Blagojevich (not economic, but still, lynching flavor of the week), this week - who knows?
The truth is, Americans don't know what's going on. We don't understand what WENT on. We don't know how it got this way. We don't understand the plan to make it better. And we don't understand how it CAN get better.
And neither does anyone on TV. And them filling 24 hours of "news coverage" with often nervous conjecturing about the present and future only makes it worse.
I don't know about you, but that's enough to scare the shit out of me.
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