Wall Street suffered its second-worst, one-day drop ever. Not that most Americans care.
The Pew Research Center reports today the public is worried, but not panicking over the economy.
But viewed here from the cheap seats, this is the bombshell:
There has been no decline in people’s perceptions of their own financial situations. Looking ahead to next year, Americans are more confident than they were in July about an improvement in the national economy and in their own personal finances
The Pew experts say this doesn’t mean the public has been spared the effects of the economic meltdown, with many people saying they’re learning to live with less. But a review of the numbers shows almost no difference in how people viewed their personal finance situation in October, compared to July.
The survey also says we’re more optimistic about the economy than we were in 2004, and more people have confidence in the government to fix problems. The #1 cause of the the financial crisis, the survey said, is too many people taking on debt and comparatively view said it was because of lack of oversight.
There’s also been no change from July in how people view the presidential candidates’ ability to handle economic issues.