Of course, business cycles are heavily driven by psychology. Today the University of Michigan said consumer confidence had fallen sharply. That was led by a decline in consumer expectations of the future, no doubt thanks to relentless bad news about America’s credit rating, Europe and the Dow. If something would just distract the news media from the economy, we might have a chance.
Of course, business cycles are heavily driven by psychology. Today the University of Michigan said consumer confidence had fallen sharply. That was led by a decline in consumer expectations of the future, no doubt thanks to relentless bad news about America’s credit rating, Europe and the Dow. If something would just distract the news media from the economy, we might have a chance.
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