But What’s It to Me?

“IBM will only lay off several thousand, not the one hundred thousand (25% of work force) as reported by Forbes”

BUT – My job is secure.

“Oil will reach $200 a barrel, someday” according to an OPEC official, “but we are still over supplied by one and a half million barrels per day” and the U.S. oil patch is withering away

BUT – I’m only paying $2.00 at the pump.

The stock market has exceeded pre-recession highs by the benefit of continual Quantitative Easing making a few (at least the 1%) a whole lot of money.

BUT – I’m in the middle class so no plus or minus for me.

Police are armed, inner city camps are being formed, shots are being fired and infrastructure is deteriorating every day

BUT – I’m secure in my gated community.

Syriza wins an election. Europe is in flames. The Bankers continue to cling to the failed Keynesian policy

BUT – I still go to dinner every Friday, pass by the guy on the corner and get despondent when the NFL season is over.

More troops to the Middle East means more body bags coming home

BUT – My children are all grown so no worries for me.

The American public feels more financially secure yet more economically detached in a new survey conducted by Bankrate.com. Unfortunately the only thing the survey proved was out-of-sight out-of-mind and the belief that other’s misfortune is not my concern.

Most remaining middle class people, when really pushed, will acknowledge the fallacy of the 5.6% unemployment rate, after all, the 92 million people not counted in the participation pool are real. If however, the public is not reminded of manipulated numbers then it is easier for them to accept a statement “the economy is improving, after all, the unemployment rate was 6.7% in December, a year earlier. Of course, 5.6% is certainly better than 6.7%”.

Currency fluctuations, foreign elections, ISIS beheadings, boots on the ground, billionaires in Davos are all things the average person even knows or cares anything about.

As long as one’s day to day circumstances don’t deteriorate optimism will be the rule of the day. No matter how many polls you take they will always reflect a belief in a better tomorrow than today.

Scarlet O’Hara spoke for the American public when she said “I’ll think about it tomorrow, after all, tomorrow is another day”.


For most people everything is fine as long as the patient remains in a coma and gets no worse. If death is imminent we may want to be a bit concerned. For those who choose to look around or even bring their head out of the sand the smell of a corpse is in the air.


Written by
With his passion for economics Bill Tatro has been entertaining audiences on the radio and in seminars for decades. Bill is an economist that provides weekly paid content to subscribers, and offers a free daily "lite" version as well.