Local Connection: Wall Street Roller Coaster

By Rick Blangiardi

HONOLULU (HawaiiNewsNow) - The crazy days of summer on Wall Street have taught us all something about ourselves.

We like to rationalize our world, even when it's irrational.

Listen to us! ...saying, this plunge is caused by European debt concerns.

...and this rebound comes from a decline in jobless claims.

The logical fallacy is, these things did not justify the *degree* of the ups and downs. Sometimes it's about the heart, not the arithmetic.

Analysts think businesses are holding off on hiring because of 'uncertainty.'

There's a lot of truth in that - even bad news tells you where you stand - it's not *knowing* that paralyzes people.

I'll tell you a little secret about business people - they're like the rest of us - tell them how it's gonna be, and they'll deal with it.

Which is why the best thing congress can do for the economy is to get a deficit reduction package done.

No matter what's in it, businesses will do more to grow the economy when it's done than they will now, while the outcome is uncertain.

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