Fearing the Worst, Economically

“Pessimism” is the wrong word here, insofar as it concerns the future.  It’s a tendency to believe that the worst will happen; it’s a lack of hope or confidence in the future. While Americans may be pessimistic, what the meme here is about is the present, not the future.

The 58% of U.S. households that own stock are reporting about a current fact.  My portfolio is off 9% since Trump took office.  I’m not thrilled by this, but, in addition, I’m pessimistic, meaning that I’m worried that the economists are correct, and that all of Trump’s lunacy is going to send the U.S. into a deep recession, and that 9% could turn into 50%.