Katie Couric's Notebook: Economic Jitters

By: Katie Couric
Topics: Katie Couric's Notebook

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Notebook: Economy Jitters

If the economy is giving you the jitters, there's good reason.

The mortgage mess, high fuel prices and the bank closings this week were alarming enough. Then today, we learned that inflation is roaring back to life - consumer prices climbing 1.1 percent last month - the second biggest jump in 26 years.

Is there a silver lining? Click for more from my Notebook.

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by petersemkiw July 17, 2008 4:47 AM EDT: Jeepers Creepers!!
I got the Economy Jitters!!; Reply to this comment


by kenhamlett July 17, 2008 3:03 AM EDT: These are noble and wise words. You were simply too courteous to expand on the theme towards a greater truth.
We were all taught to save and never buy what we can''t afford. However in recent years commons sense went out the window and instead many read the economic fiction of Friedman and believed, then they saw Greenspan penalize the thrifty by cutting interest rates well below where they belonged which encouraged reckless borrowing and speculative investments. They even believed a home was a no fail investment vehicle instead of realizing it was supposed to be a secure place to live.
Now that the time has come to tighten down on expenses and return to the ways of real economic stability no one recalls how it should be done.
You are correct that things will turn around eventually but even those that lose the most in the mean time are unlikely to have learned anything. That''s just how it works.
The saddest part is that many saw this coming but few would take heed. Sound time proven principles are simply too dull for most to believe in. That is life in the good old USA.
That''s what you should have said.; Reply to this comment