Why Douthat is afraid of economic pessimism

Earlier this week, I noted that, in his most recent column, Ross Douthat claims that too much pessimism in an economic downturn can be as bad as too much optimism in a bubble.

True, at one level.

But, not at another, not at all.

To riff on Tolstoy, bubbles are all alike in their giddiness, but burst bubbles each have their own separate sadness.

But, to go beyond whether there's currently the right level, too much, or even not enough pessimism, whether in the general public, or the punditocracy, let's look at why Douthat is worried.

Douthat's real, ultimate, objective, I believe, is to tamp down fear, not amongst Tea Party types, but among moderate-conservative, normally dependably Republican voters who might be antsy about the "crazy Tea Partiers" but who share their fear, if not their anger.

Could they bolt? Could a few vote libertarian? Could some of them just not vote? All are possible.

Could more Republicans get more Tea Partyish on chasing those voters? That, too.

Now you understand what Douthat is afraid of too much pessimism.