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Sure the media goes over and over but I don't think we can blame the media for the jobless rate, the rate of foreclosures, the real estate inventory, etc
No. And yes. The media is making everything out to be a little worse than it actually is, or at least they fueled the current fire. They have everybody so scared to part with a buck that it is greatly affecting the economy. People that actually are doing OK are afraid to spend or invest in anything because of the media hype.
It becomes a trickle effect.
Ha, I like my fire analogy.
The economy is the fire. The media keeps dumping gas on it.
Agreed. The media plays a huge part in this mess. It all comes down to consumer confidence. A huge part of this economy is based on average Joes like you and me investing in stock, buying things, etc. When we have been so scared, largely by the media, to invest, buy things etc, it creates a downward spiral. We stop buying, jobs get lost, news get out, we stop buying even more, more jobs are lost, etc.
I'm really just hoping I'll be able to find some kind of job down there in the transportation/warehousing field in order to get me by until I can find something more permanent. Leaving a 40k a year job /w benefits is going to be tough here in NY, but I have honestly had enough of the winters, with it being so cold, I spend half of the year holed up in my apartment watching TV. No fun at all.
Friends I know with money aren't spending -- not because they are 'afraid'...they think 'it is the right thing to do". I don't understand that mentality at all. But I heard that over and over and over at Christmas. The implication is that you are supporting the less fortunate by doing with less.
Forget that -- get out there and spend, spend, spend.
Friends I know with money aren't spending -- not because they are 'afraid'...they think 'it is the right thing to do". I don't understand that mentality at all. But I heard that over and over and over at Christmas. The implication is that you are supporting the less fortunate by doing with less.
Forget that -- get out there and spend, spend, spend.
When the general public constantly hears and sees headlines proclaiming "depression", "your job could be next", "your money's not safe", etc, people will stop buying. Call it "afraid" or the "right thing to do", its the same thing. Truth is that the consumer confidence is shattered. People will not spend if they constantly hear that their job may be next, etc etc.
I am not advocating overspending (i.e. spending more than you have), but right now people are underspending causing the shrinking economy.
Hard to spend what you dont have IMO. Many people are losing jobs and many more facing the possibility of lay offs, so they are trying to build a nest egg just in case. More people live paycheck to paycheck than we might want to believe.
Actually, its probably easier to spend more than you have then vice verse. All you have to do is get a credit card. Actually only spending what you have is hard because now you are spending with a consonance.
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