It's Crybaby Time For Consumers

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One major American city is nearly wiped off the map by a hurricane. A second is evacuated as another hurricane threatens it. Gas prices shoot up to record levels. So, does the economy collapse under these tribulations? Actually, as we learned a few weeks ago when the third-quarter data came out, it grew at a rattling 4.3 percent. One lesson of the months following Hurricane Katrina is that the American economy is remarkably resilient. It’s a pity one can’t say the same of the American population.

This was the year when a crybaby culture took hold of the national temperament.

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