If things are so bad, then why are they so good?

That's the observation Larry Kudlow concludes this commentary with, linking to a Forbes piece by Rich Karlgard.

Apparently roughly 60% of Americans think that the economy is doing poorly. Which is hard to reconcile with:

• GDP growing at 3.7%;
• unemployment persistently well below 5%, a feat once thought impossible;
• the budget deficit, as a percentage of GDP, is at the middle of the range over the last 30 years.

Karlgard concludes that we're mostly uncomfortable with the accelerating rate of change, a phenomenon that shows no sign of slowing.

Change is certainly a two-edged sword.