How confident are folks about the economy? Great question, but the true answer eludes us. Let’s face it, there is a long way for this economy to go before becoming truly productive, develops big job numbers to reduce unemployment, and re-establishes the tax base to bring down deficits. But could we be artificially holding it back? Perhaps a self-fulfilling prophecy?
In the boxes here are just a few of yesterday’s headlines. Frankly it is all good news, not good enough but good just the same. Confidence may just be lagging behind because we are all being told how bad it is.
And yes we are being told how bad it is, even stretching truths to make us fell bad about where we are. Take a look at the poll numbers above. Presidential candidates got sorted out around May, full on campaigning generated up, yes right about the time this curve starts down. Millions of dollars, strike that, Hundreds of Millions of dollars are being spent by folks to convince us our economy sucks and we are far worse off that we should be. All while the market is up, job creation is up, housing starts are up, and GDP growth continues. Is the index an outlier, or perhaps a direct correlation? You make the call.
While we have a long, long way to go, I am convinced the bombardment with hundreds of millions dollars worth of negativity is creating its own confidence expectation.