The Economic Brain

Written By: The WealthCycles Staff

The most recent survey by the Financial Trust Index shows that Americans’ beliefs and attitudes about the economy and public policy are increasingly negative and increasingly differ from those of the “experts.” Given disappointing economic growth and loss of real prosperity, a sour public mood is not surprising. But human reactions and behaviors also are influenced by conditions much closer to home—those inside our own heads.

The December 2011 Financial Trust Index reports that fewer than 25% of Americans trust our economic system. As reported by the Wall Street Journal:

In the latest release today, the survey found that just 23% of Americans say they trust the U.S. financial system. That’s as low as the earliest months of the economic crisis. And 62% describe themselves as angry, or very angry, about the nation’s economic situation — the highest level since March 2009.No surprise there: after watching our government pull the fat out of the fire to rescue, at taxpayer expense, mega-banks whose reckless practices nearly took down the entire world economy, suspicion and distrust are healthy reactions. And even though policy makers and economists continue to faintly predict a slow recovery, many Americans continue to struggle with home foreclosures, unemployment and falling real incomes. No wonder a lot of us are in a
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testiomials Analysts are rarely all on the same page that a particular stock or sector is a bad bargain, despite the fact the market later proves it was.”

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