The other recession: Economic attitude

We have reached a first in US history. Americans "...are registering record levels of anxiety about the opportunities available to younger generations and are pessimistic about the nation's long-term prospects, directing their blame at elected leaders in Washington."

That statement was reported by Political Wire on a Wall Street Journal/NBC News poll, reported in August 2014.

Additionally, from a Rutgers study in the same period, "...college will continue to be unaffordable, people won’t be able to retire as expected and jobs will continue to be insecure," reported in the Kansas City Star.

"...42 percent say they have less in salary and savings than when the recession began. Despite five years of recovery, sustained job growth, and reductions in the number of unemployed workers, Americans are not convinced that the economy is improving," advises the Rutgers study. Is the US economy permanently damaged? "Yes," say 35%.

How deeply this sentiment runs was demonstrated in a focus group shown on CBS News. A very high percentage of respondents shared this concern. Many admitted they would actually leave the US if they could. Who do they feel is not listening to their concerns? Washington and Wall Street.

Only "19% of registered voters say most members of Congress deserve re-election" - Gallup Politics article

But are Washington and Wall Street actually to blame? Politicians blame each other. Are they to blame? Ignorance about economics allows superstition to dominate, and allows politicians to run wild with any nonsense idea they can imagine about what is wrong with the economy and how to fix it.

There are a host of very major problems, and this is what this series on the economy is about.  First, understanding it in non-economist, non-political, non-agenda, non-ideology... speak. Second, looking for solutions to make the economy work.

Where Does Our Money Come From?