It’s not necessary for anyone to be an experienced economist or to have an advanced degree in finance to sense that we have some very serious economic problems in the United States.
With the national debt more than $13 trillion, with annual federal government deficits about $1.5 trillion, with taxes too high and with unemployment close to 10 percent, why are we surprised that the stock market and many private businesses are not acting with economic confidence?
It should be evident that we are not doing everything right.
In the middle of this week, only 442 stocks had prices rise on the New York Stock Exchange – while 2,627 stocks fell in value.
What does that suggest other than a lack of economic confidence among our people?