So, there are threats and the economic data is fine (like now) -> the free market works great because it works fine in spite of the threats.

There are threats, the economic data falls into the gutter, but eventually recovers (not without real and quite lasting negative consequences for many people) -> the free market works great because hey, if you held SP500 you were still fine in the long run.

It's like a religion. If things go well it's thanks to God, if things go wrong maybe God is testing or punishing you but all will eventually be fine (in the worst case, after death). The free market is a lot like a god for its followers.