Charles Payne

The self-fulfilling prophecy is, in the beginning, a false definition of the situation evoking a new behavior which makes the original false conception come true- Robert K. Merton

Merton’s self-fulfilling prophecies are as prevalent today, as they were when he coined the phrase in 1948, and expressed that we live in a nation where dark clouds of despair are becoming darker, where prophets of doom understand the more they scream, the greater the likelihood there dire warnings will come true. For me, the greater risk is the former. We live in a nation with slumped shoulders that cannot produce an economy that maximizes potential and create widespread prosperity.

The NBC/WSJ survey underscored things we thought were going on, and were shocked and amplified by the notion there is a leadership and confidence crisis. The country is not in a recession. There are forces moving it in the wrong direction from excessive money printing to ideological-driven policies that have gut our work ethic, and have removed rungs from the ladder of success. Nonetheless, when there are overarching feelings of hopelessness our destiny will curve in that direction.

71%

Country moving in wrong direction

71%

Somewhat to very dissatisfied with economy

49%

Believe the country is currently in a recession

There is a silver lining. I do not think Americans are ready to ditch our economic system, despite non-stop badmouthing from the White House to the mass media. People see Washington D.C. as the issue, not income inequality, low minimum wage, or other “ills” of capitalism, which is great news; we can always throw the bums out.

71%

Elected officials in Washington hurting economy

23%

Longstanding problems hurting economy


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.