A strange inversion has happened in the past few months: Consumers have gone from being deeply pessimistic about the future to slightly optimistic at the same time that companies have moved from being slightly positive to increasingly negative. That discrepancy is intriguing, and raises the question: Which view will determine the course of the near future? Will the buoyed spirits of people carry the day, or will corporate glumness pull us down?
The Edgy Optimist
It’s admittedly trite to use the occasion of Thanksgiving to look on the bright side, but given how rarely we cast an optimistic outlook these days, it’s as good a reason as any. With Chapter LXXII of the Middle East conflict playing out in Gaza and the daily soap opera of Washington politics oscillating between sex scandals and fiscal fearmongering, we are once again subsuming the bigger picture to the smaller one and privileging fear.
Barely had the counting ceased in last week’s presidential election when the news took a somber turn. Two of the next day’s headlines read “Back to Work, Looming Fiscal Crisis Greets Obama” and my favorite, “America has Sown the Seeds of Its Own Demise.” Politicians either celebrated or decried the results, but regardless of party affiliation most warned of formidable challenges and a perilous future.