[TomGuy]

If the people outside of the ivory tower (forget the GDP stats) believe there is a recession, than there is one. There is, and real Americans are reminded of that every time we go to the gas pump.

Correct.

Politicians and their loyalists (many of them right here on FR) keep forgetting: Perception is reality.

Like it or not. That is the way it is. And those who perceive that their financial situation is bad in November (about the time the first massive winter heating bills have arrived) will vote for change, not for the status quo.

[Lucius Cornelius Sulla]

Perception is reality.

You seem to have scored some really good acid! Sometimes I miss the 60's.

[Darren McCarty]

And those who perceive that their financial situation is bad in November (about the time the first massive winter heating bills have arrived) will vote for change, not for the status quo

You said it less harshly than I did, but that's exactly the case. Granted, we are a special case of recession here in Michigan going on 7 years, but the whole Midwest has problems right now. That's also where elections are decided.

[WhistlingPastTheGraveyard]

Perception is reality.

In other words, the masses are never wrong. About anything.