Business magazines like the great Economist already talked about a weak economy last year - and also about the chance for a recession. Sure, some indicators in the US showing signs of weakness, but overall the global economy is running quite nice.
The burst of the credit bubble was a nasty event, but still not big enough to bring the whole economic system down.
But the real ‘panic’ started once the presidential candidates used the ‘R’ fear to get votes. Now everybody started talking and most of all worrying about a ‘Recession’.
Stock Brokers are like sheep in any other profession- they easily panic and follow the herd. Although the economy didn’t really crash or some nasty event like 9/11 happened they panicked.
The American economy might be a bit wobbly, bit it’s not bad. The rest of the world is running quite nicely - so can we please stop that panic and WORK on a better economy instead of crashing it?
