That bullish mood has instead given way to one of intense anxiety in which all news is viewed negatively and not even strong earnings reports, such as those this week from Pepsi, General Electric, Citigroup and Apple Computer, can overcome fears of a slackening economy, a bulging trade deficit and a worn-out consumer struggling to keep up with higher energy costs.
If anthropomorphism is the tendency to attribute human motivation to the actions of non-humans, what would be the right word to describe the tendency to attribute coherent behavior to the consumer who rarely gives thought to macroeconomic issues, who - collectively -- doesn't save squat, yet is presumed to be the linch pin of economic recovery?
No, actually, I think 'lunacy' is already spoken for. And, to be fair, I know that the summary above isn't a fair assessment, but is rather a glib summary, meant to appease those (like me) who want a quick, easy answer. The only thing missing is a scapegoat.
Perhaps those who own 'lunacy' would give up their claim?
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