Doesn't all this media emphasis of a slowdown seem irresponsible? (house, average)
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If anything stop watching and listening to the media and go find your news online from among various sources. From there you will get the REAL news.
You hear of job layoffs from the MSM but they are not telling you half of it.
Click on this link and just look at today's announcements..btw each of those listings is a link to the data backing up the layoff claim.
here is what the press cannot hide:
1) US Housing implosion,
2) US mortgage bond implosion exacerbated by the above suing of US banks and leading to,
3) the US banking implosion,
4) the US external deficit which Buffett noted was paying interest on the interest as of Dec 2006 and with Japan and China dumping US treasuries and the US failing to achieve the $2.5bn a day needed,
5) the US fiat money implosion which Liu mentions when it all feeds back into the US,
6) the US fiscal liabilities implosion of $60trillion plus interest to pay for pensions, medicare and medicaid,
7) the US pensions implosion due to ERISA and the baby boomer wave,
8) the US derivatives "weapons of financial destruction" explosion,
9) the US household debt implosion, and
10) the US industry implosion including collapsed manufacturing and airline industry, and
11) the US deflation implosion.
The news media is talking down the economy so that come January 5 they can start talking it UP and validate their anointed one as they switch there stories 180 degrees. Their gain is POWER to validate how THEY MADE THIS GUY and they RULE by their values now SUCKERS!!!
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You're starting to sound just as crazy as the "Go out and buy ammo and non-perishable" guys....
Anyhow, the "media is exaggerating things" claim is getting more popular lately. As far as I can tell its just a form of scapegoating, both by individuals and businesses. As far as businesses go they need someone to blame for their decline and possible failure, so why not the media and all the "bad news". The people with the news today is not they lie about things or even exaggerate things, its that they are rather selective in what they report. As far as the bad economy goes, there really isn't any positive news to report on! They ignored bad reports and reported happy-talk as long as they could without it becoming absurd.
Anyhow, a lot of businesses are going to fail due to the change in consumer behavior. Either you realize that change is going to occur and try to adjust or you ignore and hope things go back to "normal" again and likely fail. When even big box retailers like Best Buy are smelling the coming winds...you know something is up.
Some business models aren't going to work in the coming years.
Well, I have no involvement with those industries so that isn't what I had in mind. Rather over the last 5~7 years a lot of businesses that have popped up that are just.....hmm.....really stupid. The only reason they seem to last more than a year, was lax lending. Such as:
- Business service businesses. I get advertisements from this people all the time, they all seem to be 20/30 somethings that are going to come in and tell me what I should be doing? Never mind the fact that their only business experience is from school and their current business.....
- Web based companies that do nothing but flip merchandise, usually via drop shipping.
- Retailers (web or brick and mortar) that sell "luxury" goods that are essentially overpriced nicknacks or food items.
Its basically the businesses that require people to pay more for their good/service than they would if paying cash that are going to do poorly.
I first started wandering about all those people that were investing in tech companies that never showed a profit because so many wanted in on the next Dell or Microsoft or such. Then talking to many that were overloaded in many growth type stocks . After a few years they seemed to forget that there was risk involved.After the 70's recession we saw a whole generation that left the markets;we might see that now for a good pre centage IMO.From waht i have seen the fed seems to be lower tehy dolar value to get people to spend or inhvest rather than hold and save cash. I really don't think they will have much luck tho as the average person just doesn't trust the markets now after many loss half thier value.
You must realize that you control what you watch on T.V. and if the negativity become to intense, turn it off and listen to music on the radio.
This is a economic mess that we are in with no short term relief in sight. You can watch it with the belief that you can become part of the solution to turn it around or just drop out of society for awhile until it gets turned around. I guess it's all about what your pain tolerance for the truth and lies is.
I pose the question to you all, especially fellow business owners out there... Doesn't all this media emphasis of a slowdown seem irresponsible?
My point of view is that sure there's a credit crunch, but other than that everyone is still producing the same quantity of perishables (it's not like an environmental calamity has occurred), manufacturing hasn't come to a standstill for anything people really need, and for all intents and purposes our printed money is still worth something in other people's eyes. That said, I cannot listen to 5 minutes of TV or radio news coverage without hearing someone claiming that the sky is falling regarding the US or global economy.
I have always and still praise how we now live in the information age, but at what point is the media now creating reality vs just reporting on it?
Your thoughts on this?
I think they are finally telling the truth, which we are NOT accustomed to. But now things are too in-your-face for even them to Faux News it. They should have really done the same on 9/11 and everything that followed. A bit late, I'd say.
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