January 31, 2008
If you listen to the broadcast and cable network news all you hear is a lot of hand-wringing talk about how bad the economy is or whether or not we're in a recession. One radio commentator I heard said that basically they were a lot of "drama-queens" and that even by all economic benchmarks and definitions we are nowhere near a recession.
I once something ascribed to the late President Harry Truman. Supposedly he once said that he wanted a one-armed economist, because every time he asked his economic advisors a question they would always say, "Well on the one hand this, but on the other hand...that."
Frankly, we have the power of talking ourselves into a poor economy by getting scared, negative and everyone pulling in their horns. To quote another President, Franklin Roosevelt, "The only thing we have to fear is fear itself!"
Locally, regardless of what else you may hear, we have a lot of reason for economic optimism. Around here, times are actually pretty good. Nationally, things will be fine as well, if we keep the faith in the best economic system in the world and don't buy in to the doom and gloom crowd.