An Economic Self-Fulfilling Prophecy
Retailers are experiencing a very disappointing back to school season. The late Labor Day means that many schools are starting later so the season will actually last well into September. However, the late start date isn't the only reason for slow sales. The AP reports:
But overall, sales were hurt by consumers' concerns about money and jobs. On Tuesday, the Conference Board reported a larger than expected decline in consumer confidence, and attributed the slide to Americans' worries about the job market.
Why are Americans so pessimistic about this economy? Most economic indicators are moving in the right direction. The unemployment rate is as low as it was back in Clinton's "boom" years.
I believe the answer is that the media's and the Democrats' unrelenting negativity are creating a self-fulfilling prophecy. The Democrats have put themselves in a position where bad news for America is good news for them. If the economy is humming along and efforts in Iraq are positive it means Bush is more likely to win re-election.
So, the Dems keep preaching about unemployment and the economy and their willing accomplices in the media play along. The America people continue to hear, day after day, that the economy is going in the wrong direction. Good economic news is buried. No wonder why consumer confidence isn't where it should be.
This is good news for no one, except for those whose only goal in life is to defeat George W. Bush.
Posted by at September 2, 2004 10:29 AM
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| # March 7th, 2005 6:48 PM Converted_Comment | |
Right on the money! |