Jeff Grubb's Ruminations, Comments, and Other Nonsense
Monday, November 01, 2010
DOW Breaks 11,000
Well, broke. It happened a couple weeks ago, when I was busy going into all the initiatives. But I'm sure that you heard about it from other sources, since even such a transient benchmark like this is worth reporting. Right?
No? Well, you probably were out enjoying your tax cut. What, you didn't hear about that, either?
You know, if only we had a 24-hour news source that could get this information into the hands of the people. It feels weird, but it honestly feels like we know less now than we did back when Walter Cronkite talked to people for a half-hour (and he was quoted that when he said "for more details, see your local newspaper", he meant "for ALL the details, see your local newspaper").
I don't know if the media is just naturally contrafactual or just behind the times. When we first pitched into this rabbit's hole of a recession, the media seemed to be deeply in denial, yet now that we are (painfully slowly) working our way out, we seem determined to hide promising signs as much as possible.
It is not just economics. We seem hellbent on cultivating our fears. An ironic rally in Washington outdraws a hatefest a few weeks earlier and is brushed off. We pull combat troops out of Iraq two weeks ahead of schedule and there are grumbles at best. A real, live terrorist threat that is foiled and everyone shrugs because that's the way the system is SUPPOSED to work.
I mean, I'm supposedly cynical, but it feels like this part of the room has gotten really crowded over here. And if no one else is going to say nice things, I'm going to have to do it. No, no, don't thank me. I give myself about three days before I gos back to my grumpy ways.