Economic Spiral
* The last administration saw the economy “cooling down.” The present administration sees “recession.” The media, always eager for bad news because it sells, play up recession. The financial analysts berate a company because it made only $47 million instead of the $50 million forecast; therefore, the stock price drops. A fund manager, feeling insecure, sells. His fellow managers, not wanting to stay the course, also sell. In the meanwhile, there are many companies making very handsome profits, but the panic bug has bitten. The analysts have spoken. Could this be our problem?
AMOS BERNSTEIN
Tustin
More to Read
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.