We are living in a bubble of gloom.
Since I am personally
outside the bubble, quite cheerful in fact, I can see it clearly.
The bubble has had some harmful effects on government policy, such as
unnecessary tax credits and the associated increase in the deficit.
The bubble has had some effects on financial elements, particularly
pension funds and business expansion.
But I expect it to be over when Americans begin realizing we have won the war in Iraq and that we have escaped the forty years of Vietnam induced misery.
The media and the popular world usually sees a period of great hope and inspiration as doom and gloom. The 1960-70s were a period of hippy revolutionary fervor and optimism, involving 10-20 million young people. During the entire revolution of hope, the media and popular world only saw riots, dirty hippies, horrible drug problems, college uprisings and anti-war violence.