The Economy: the thing with feathers?

Although there were many factors that contributed to the severity of the Great Depression (huge stock losses, bank runs, worldwide trade isolationism, the lack of FDIC guarantees), a severe and consistent drop in consumer spending was one of the major factors.

Although we like to pretend that economics is a hard science, it isn’t. There is no Bernoulli’s principle keeping the wings of our economy aloft. It’s not a 747, it’s Tinkerbell. It only flies if we believe it will.

Which is why Obama’s win, and his campaign based on ‘hope’ may provide some genuine economic benefits. But only if we believe…

UPDATE: Or, maybe not. Come on people, clap!

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About marypmadigan

Writer/photographer (profession), foreign policy wonk (hobby).
This entry was posted in domestic politics. Bookmark the permalink.

One Response to The Economy: the thing with feathers?

  1. Pingback: » The Economy: the thing with feathers?

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