Why are people so pessimistic about their economic future?
We have had actual recessions and depressions several times in the past and we’ve always roared back. History should give us a good feeling about current conditions. So, why the long faces. Anyone remember the loan rates for houses in 1980? 19% for a 1st mortgage! Loan rates now are only 5.75%. Anyone remember long gas lines in the 1970’s and only being allowed to buy gas on alternate days? How about the collapse of the real estate market in the early 90’s. What about the huge unemployment rates at other times in our recent history. It is only 5.1% now. The military losses over 7 years of war is almost the same as the first few days of WWII. The U.S. has been hated by underperforming countries since 1948. Nothing new there. At one time, for decades, we were a finger-push away from nuclear obliteration. There are many examples of real crises. We’ve always thought it was the end of the world and we always bounced back. So, if you feel depressed about our economy, why?