I had an argument a few days ago with my younger brother, who says the real problem with the economy these days is the news media are scaring everybody. Without all the news channels reporting all the bad business news, he said, we'd be fine; or at least, much better.
He's not the only one, of course. I've heard that same idea around town, at the gym, and in the office.
Allow me to make a suggestion: when somebody says that the economic problem is really just the media exaggerating the bad business news, I'll bet that the person saying that still has a job, and a job that isn't threatened. Yet.
It reminds me of the old half joke about the difference between a recession and a depression, namely: if my neighbor is out of work, it's a recession. If I'm out of work, it's a depression.