Is there any evidence that the Federal government has had a real impact on our confidence in the markets and general economy? Very little, I fear. I laugh at the countless reports today that investors are waiting hungrily for the Fed’s announcement about a reduction in interest rates . . . wondering if that will make a difference? Hello? As the Wall Street Journal reports, the Consumer Confidence Index is at an ALL TIME LOW!
We could probably endlessly debate how to rebuild confidence but a key ingredient is demonstrable evidence that the steps being taken are working. Sadly, there’s not much of it. I’d be stunned if a drop in interest rates even dented this malaise.
Everyone, get back to work. Stop letting the headlines get into your head. Focus on what you can control. Be positive. Never, never, never, never give up, as one wise old sage once said. (I think they were bombing Britain at the time?)
more later . . . .