So good economic news is bad because we may not spend the money properly?

Is George Will the nation's new Mrs. Grundy?   His column, titled: "The good economic news is actually bad. Here's why." shows that supposed intellectuals of his kind wield a lot of ignorance. Seriously, he really does say prosperity is bad for people because it leads to bad behavior, such as running up credit card debt and not saving for retirement.   This stroll down memory lane suggests this rule: All news is economic news, because everything affects the economy, or reveals attitudes or behaviors that soon will affect it. And all economic news is bad — especially good economic news, because it gives rise to bad behavior.   Essentially Will's argument is that if people and businesses feel too positive about the economy they may not spend their money in a prudent manner and won't save enough.    Therefore, I assume we should shoot for the eight years of Obama with a slow economy, low confidence and...(Read Full Post)