Alan Greenspan and the president have it secretly faxed to them the last Monday of every month. The next morning, the rest of us get it. The markets then react immediately. Or so says Dr. Wojlinower. That's how good things happen.
Good things happen because optimistic people do crazy things.
Some of the crazy things don't work out so well, but some of them do. And I think it's part of the remarkable success of the United States that we have this attitude and that kids grew up with this point of view. It's the hardwired optimism which is stronger in America than in other places that accounts for the enormous business success. In the end then, if our native optimism isn't chased away by some unforeseen event, confidence on the part of consumers may be enough to keep fueling the economy and, perhaps, resume feeding the bull. Today's rebound in consumer confidence, at least, gives no cause to think otherwise.