Perhaps I will take a look at the book you recommend. It does sound interesting.
Look, I understand that confidence is very important. I also understand that Bush is not the only source of faltering confidence, and that his credibility depends on acknowledging the things that are worrying people, particularly investors, and showing that he is trying to address them. Although the recession in the early 90s was not very long, it caused a lot of trouble for his father, who largely took the approach you recommend, in trying to bolster confidence. For people who were experiencing the worst dislocations, as in southern California, and many others worried about their jobs, it made him seem out of touch, and had precisely the opposite of the soothing effect. It is a delicate balance, but I genuinely think that Bush is acting responsibly, and, considering his need to build support for his initiatives, in a politically astute way......... |
