That's what the Christian Science Monitor says.
It says the economy is doing quite well, thank you. And it urges politicians to just keep their hands off, because they can't do anything anyway.
Plus, it says we don't care about having jobs.
The jobless rate doesn't carry much weight in elections anymore, and the current one (6.1 percent) is lower than at the end of the past two recessions. (The deficit, too, as a percent of GDP, is comparatively lower.)
These days, Americans worry more about house prices and stocks. And they're more financially literate, knowing the limits of government in quickly shifting a huge economy.
I'm not sure I understand how house prices and stocks are going to matter if we don't have jobs. Do that many voting Americans really have stocks and portfolios large enough to carry them without jobs? (Whoa. Maybe the key word there is "voting" - maybe the ones without stocks or jobs don't have votes either.)
Financially literate? Well, whew. Because they don't appear to be literately literate.
I was just puzzling on this matter of the economy a few days ago.
And I just don't know who to believe. And since reality is whatever you can convince the rest of the world it is, then I guess I'll just have to wait and see how the rest of the world lines up. (Probably better get my economic analyses from Fox News then, huh?)
Saturday, November 01, 2003
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