It has been a long time since Americans have been this depressed about the economy.
It might not seem that Europe's sovereign-debt crisis and growing concern about the United States' debt position should shake basic economic confidence. But it apparently has. And loss of confidence, by discouraging consumption and investment, can be a self-fulfilling prophecy, causing the very economic weakness that people fear. Significant drops in consumer-confidence indexes in Europe and North America already reflect this perverse dynamic.
Join me on Saturday, October 15, 2011 at 10 am PDT as we discuss this issue.