DON'T GIVE UP ON U.S. ECONOMIC STRENGTH

President-elect George W. Bush has been talking about a possible recession. Some analysts are predicting higher unemployment, generally an indicator of economic sluggishness. Interest rates creeped up for awhile. A recent nationwide poll indicated most Americans expect to feel a financial pinch over the next year.

The real reason for whatever economic frustration there is? The stock market. Investors have had quite a run with stocks. A record number of Americans have become investors because stocks and mutual funds looked like an unending gravy train.

But the stock market is only an imaginary gauge that just happens to have resale value. And it is subject to up-and-down swings that can easily frighten a novice investor.

The economy isn't doomed -- unless Americans start to panic over what otherwise would be considered normal changes in the stock market. There's still plenty of room for optimism.