The audacity (and danger) of fearmongering

It's about time we floated a boat of common sense into the current sea of fear.

Yes, we are in a recession. And, yes, it is harder in Las Vegas than it is elsewhere.

But it is not a depression. Not even close. In fact, there are already signs that we're beginning to emerge from this recession ... and it has nothing to do with the "stimulus" bill that has yet to be signed.

This morning I point you all to Bradley R. Schiller, an economic professor at UNR, who writes in the Wall Street Journal today. He warns of the over-the-top fear-mongering engaged in by President Obama and Democrats for purely political reasons.

Hear and heed what Mr. Schiller says:

"Mr. Obama's analogies to the Great Depression are not only historically inaccurate, they're also dangerous. Repeated warnings from the White House about a coming economic apocalypse aren't likely to raise consumer and investor expectations for the future. In fact, they have contributed to the continuing decline in consumer confidence that is restraining a spending pickup. Beyond that, fearmongering can trigger a political stampede to embrace a "recovery" package that delivers a lot less than it promises. A more cool-headed assessment of the economy's woes might produce better policies."

You can read Schiller's timely piece here: http://online.wsj.com/article/SB123457303244386495.html.