Consumer confidence. Like sex, it’s what sells. Give the consumer enough confidence in the future to go out and spend it now. It’s what passes these days for an economy. A consumer economy. Not to be confused with a producer economy. One with actual production. Not consumption. Another word for consumption is cancer. Ever wonder why one out of three people here in ‘Merica are dying of cancer? Maybe “it’s the economy, stupid.” It might just be the stupid economy.
Half of the economy seems to be men whose job it is to build up the consumer’s confidence. That and to measure this same confidence and quantify it. In this I include advertisers, public relations experts and associated spin masters, news organizations (spin, again), wire services, and the culture camp. A whole industry or two devoted to forming, acquiring, and getting the word out about the great recovery. We are all going to be rich. You can have confidence of that all the way to the bank. (Please, they need it)
In a financial news interview the other day the guest let slip the fact the fastest growing section of the recent jobs report was for those who have given up looking for work. He said it was up to 90 million workers. Don’t ask me but in a country of 300+ million people 90 million sounds like a lot more than the 5% they are claiming are out of work because those 5% are at least still willing to go out and look for a job. I don’t know, maybe there’s enough government cheese that 1/3 of America doesn’t even need a job anymore. I hear that since Alabama was elected back in ’08 getting food has been a snap!