Saturday morning, I played catch-up, reading several days worth of Wall Street Journals. And as I took in bad news after bad news from those gray pages, I began to wonder whether this economic desert we’re inhabiting isn’t in some way perpetuated by simple belief.
What I mean is, if you believe times are really, really bad, then you’re likely to hold your purse strings tightly closed. You won’t take that trip to Disney you’d hoped to surprise the kids with and you won’t buy new furniture because you want to hold on to any extra money. In turn, this lack of spending feeds the notion that the economy is sinking, and so you rein it in more, and the cycle continues.
So is the bad economy part real, part belief-promoted?