The real economy remains strong enough to survive financial jolts The Wall Street cartoons tell us a lot about the change in our economy. Bounce back they did. It should not be surprising. Consumer and business confidence are at all-time highs. We have growth without inflation in the most competitive economy in the world.
Banks are financially sturdier.
The deficit is reduced to a rounding error. Capital investment is at a record. Corporate profits rise at double-digit levels. The chairman of the Federal Reserve has inspired worldwide confidence in the management of our monetary policy. So the '97 crash was really a market event, not an economic event.