Blame sour mood on economy on Iraq, not gas prices or wages

[RamboLiberal]

http://www.post-gazette.com/pg/05233/557049.stm

Americans are in a sour and pessimistic mood.

President George W. Bush's job approval rating is an unimpressive 42 percent, according to the latest Associated Press poll conducted by Ipsos Public Affairs. Attitudes are lousy about just about everything. Only 41 percent of Americans approve of the president's handling of the economy, the same poll shows.

These low ratings on the economy are consistent with other measures of consumer attitudes. For example, the University of Michigan's consumer sentiment index tracking expectations, the variable that academic economists have found most important for predicting consumption, is down from the start of the year. The index has been much stronger during similar booms in the past.

<snip>

There are only two possibilities. Either Americans see an economic reversal coming that markets have missed, or the data are fine and Americans are upset about something else.

I think it's the latter, and that something else, I submit, is Iraq.

[mhr]

1. Peak Oil = Peak Gas Prices - When Will They Ever Learn?

eom

[Bob3]

2. Ah Kevin... about public opinion....

"There are only two possibilities. Either Americans see an economic reversal coming that markets have missed, or the data are fine and Americans are upset about something else.

I think it's the latter, and that something else, I submit, is Iraq."

Kevin - You know there is third possibility - That Americans see an economic reversal coming that the markets have missed since they concentrate on how companies are doing (see recent data that shows the working american is falling behind as the cost of living increases) and that they are pissed as hell about Iraq.

Am I the only one that thinks that public opinion about Iraq is way ahead of the curve compared to our political represent ives? A good number of our fellow citizens want us out if not now very soon and yet the most we get from the Democratic party is soft mushy appeasement.

[Arkansas Democrat]

3. I'm in a bad

mood for BOTH reasons and many others to boot!

[niallmac]

5. Soft mushy peas

oh yes please. DLC motto: Give mushy peas a chance.

[phantom power]

4. Sounds like somebody is trying to convince themselves that

the economy isn't in imminent danger of collapsing.

[dansolo]

6. Iraq is going to be a huge boat anchor on the economy

Are they still excluding the Iraq appropriations from the economic figures? That would explain the slumbering economy even with all of the allegedly positive economic figures.