We grasp at straws to mine some good economic news these days. Today we learn that “The number of banks on the government’s list of institutions most at risk for failure fell in the second quarter, the first drop since before the financial crisis began.” www.nytimes.com/2011/08/24/business/first You can’t walk ten feet without hearing someone complaining about the economy, with blame spread around fairly equally between the President, Congress, Bernanke, Geitner, big banks and just about anyone else within our sights. People speak about “fixing the economy” as if it was a ship that needs to be steered through treacherous waters. The economy is not a ship, it is the ocean itself, with thousands of currents constantly changing and constantly pushing and pulling. We just keep grasping at snippets of good news like they were life savers trying to keep afloat until the waters calm.
By Sam DelPresto