All-time “highs” and “lows” in confidence levels usually signal a reversal in the present trend. So we should view this as a positive sign. The other positive is that the media coverage of the economy is about to undergo a 180-degree turnabout to all positive, all the time, the day their wonderboy boy-wonder takes office.
You betcha. I take it you’ve been around long enough to have seen that pattern, as have I. ;)
We’re no where close to the bottom. Wait till the Q1 wave of layoffs followed by the 2nd half reseting of Option ARMs & Alt A mortgages for the next 3 years. Consumer confidence is going to drop a lot more. Government (all levels) haven’t even begun to cut spending and many are expanding still. Once that stops—and it has to as our gdp is plummetting—it will get even worse.
Migraine wrote:I think we'll have to wait 3 to 5 years before the propaganda ministry (formerly known as the media) will report good news.
The other positive is that the media coverage of the economy is about to undergo a 180-degree turnabout to all positive, all the time, the day their wonderboy boy-wonder takes office.
For the next few years, they will report on The One "doing everything he can" and "working hard" to turn things around. But for the next few years, the news will be bad, and the reason will be that George W. Bush and the Republicans screwed things up so bad that all the good work of The One, plus Reid and Pelosi are going to take a while to have the full effect.
The Dem's don't want to "waste a crisis" and solve the problem too quickly to push more of their agenda through.