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      A lot of mistakes come from assuming rationality means “thinks the same way I do” rather than “reasons from premises I might not share.” Left than 1/1000 economists predicted the financial collapse, because they reasoned from assumptions like “the market is self-correcting” or “housing prices never go down.” (Sometimes both at the same time, which is rarely […]
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Tuesday: Springtime for the NYTimes and Big Lies

It’s been really cold in NJ this spring.  Yep, I know it’s still early but I wore the liner of my trenchcoat yesterday and could see my breath in the chilly rain.  I’m thoroughly sick of it.  If you in the midwest are holding onto the zephyrs, please let them go already.  I feel like I’ll never be warm again.

In the meantime, the NYTimes have two interesting articles up today.  Surprise!  We feel good about the economy since Obama took office. Well, no one *I* know feels good about it but they probably didn’t get polled.  But for the rest of the country who live on some mythical Disneyesque Main Street, it is the triumph of hope over inexperience.

Americans have grown more optimistic about the economy and the direction of the country in the 11 weeks since President Obama was inaugurated, suggesting that he is enjoying some success in his critical task of rebuilding the nation’s confidence, according to the latest New York Times/CBS News poll.

These sometimes turbulent weeks — marked by new initiatives by Mr. Obama, attacks by Republicans and more than a few missteps by the White House — do not appear to have hurt the president. Americans said they approved of Mr. Obama’s handling of the economy, foreign policy, Iraq and Afghanistan; fully two-thirds said they approved of his overall job performance.

I find his job performance clearly lacking in tangible results, especially when it comes to the economy.  But the propaganda campaign is in full swing and many of my colleagues and friends feel absolutely powerless against the wealthy elite who run our companies and steal our money. (Wait a second. Wasn’t it the NYTimes that helped get us into the Iraq War in the first place? Hmmm…) I suppose the public is feeling that Obama will make them use plenty of lube and make it less painful than it was under the GOP.  Actually, I still sense a great deal of anger over this perceived powerlessness but the anger is directed at the finance industry than the administration right now.  That will change and we will do our best to speed things along.

The other article is all about the newly unemployed who are persisting in their old routines.  It’s a matter of pride, which psychologists suggest could be a good thing.  People who are laid off have lost some of their sense of identity when they lose their jobs.  So, they refuse to give in:

The Wall Street type in suspenders, with his bulging briefcase; the woman in pearls, thumbing her BlackBerry; the builder in his work boots and tool belt — they could all be headed for the same coffee shop, or bar, for the day.

“I have a new client, a laid-off lawyer, who’s commuting in every day — to his Starbucks,” said Robert C. Chope, a professor of counseling at San Francisco State University and president of the employment division of the American Counseling Association. “He gets dressed up, meets with colleagues, networks; he calls it his Western White House. I have encouraged him to keep his routine.”

No doubt, they are equally confident in Obama’s ability to revive the economy.


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