And the Good News Is ...

By GAIL COLLINS
NYT

Finally, we’re coming to a consensus about what’s wrong with the economy. It’s us. And our bad attitude.

Ben Bernanke says we’re too depressed. On Thursday, the Fed chairman suggested that consumers have an irrationally negative worldview.

“Even taking into account the many financial pressures that they face, households seem exceptionally cautious,” he told an audience in Minnesota, where the Twins are in last place, attendance at the state fair was way down and the state’s best-known elected official is Michele Bachmann. Also, star hockey player Dustin Byfuglien was arrested on Lake Minnetonka on suspicion of boating while intoxicated.

Meanwhile overseas, Christine Lagarde, the managing director of the International Monetary Fund, expressed concern that “the world is collectively suffering from a crisis of confidence.” Which is not helped by the fact that nobody can hear the words “International Monetary Fund” without thinking sleazy French pol in a hotel room with the maid.

(More here.)