The financial analysts and sellers of stocks and bonds all chant that the problem in the US is a lack of confidence. I say that a lack of confidence is a symptom of the problem and not the problem itself.
People have lost confidence in the economy because they can’t see what it is grounded in. They have seen that the tech economy never fully emerged. The Intellectual Property economy never emerged. The Sales economy failed. And they’ve seen us give away the manufacturing economy with little to no fight.
Now they see pillars of the economy fall, housing and financial institutions.
What’s left? How does one be confident when tomorrow they may lose their job, their house, their health insurance, and all the things that hold a family and a people together.
How does one have confidence when even your dreams have failed you?