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Old 01-17-2008, 06:50 AM
 
419 posts, read 1,867,443 times
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The mainstream media is doing its best to create a recession. It is a regular news story telling us every day how terrible things are. I am shocked when I go to a shopping mall and see anyone buying anything that is not absolutely necessary. Or when I go out to eat and see people spending $30 or more for a meal when they should be eating peanut butter sandwiches on three day old bread at home. If we are in fact going into a terrible recession, like the media is promoting, then everyone should cut their spending down to a minimum and wait it out. This of course will create the recession because of the media induced fear.

Last edited by questioner2; 01-17-2008 at 07:15 AM..
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Old 01-17-2008, 07:01 AM
 
123 posts, read 78,660 times
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Quote:
Originally Posted by questioner2 View Post
The mainstream media is doing its best to create a recession. It is a regular news story telling us every day how terrible things are. I am shocked when I go to a shopping mall and see anyone buying anything that is not absolutely necessary. Or when I go out to eat and see people spending $30 or more for a meal when they should be eating peanut butter sandwiches on three day old bread at home. If we are in fact going into a terrible recession like the media is promoting then everyone should cut their spending down to a minimum and wait it out. This of course will create the recession because of the media induced fear.
Whether or not the media wants a recession, in my humble opinion free markets are generally impervious to propoganda, government controls, and other external factors. At least, outside of any short term time frame. If consumers want to consume, they will continue to do so.

Personally, I think this recession will be the greatest thing our country is blessed with. It will correct some huge imbalances in our economy, a selfish generation that was used to getting everything it wanted, and stop this suicide course consumer based economy. I sincerely hope that consumers severely curtail their purchases so we can eventually return to a savings and producing type of country.

I was reading a thread on housing prices, and I cannot believe that people are actually blaming the MEDIA for housing price corrections. It's as if there's some massive conspiracy that only the powers that be know about and we're the victims.

When people are used to such good times for the past 20-25 years, it's not uncommon to not like the idea of an extreme downturn in the economy. It's also not unnatural to want to blame someone either. The media seems like a good outlet of frustration to me .
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Old 01-17-2008, 01:14 PM
 
69,360 posts, read 56,653,385 times
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Quote:
Originally Posted by questioner2 View Post
The mainstream media is doing its best to create a recession. It is a regular news story telling us every day how terrible things are. I am shocked when I go to a shopping mall and see anyone buying anything that is not absolutely necessary. Or when I go out to eat and see people spending $30 or more for a meal when they should be eating peanut butter sandwiches on three day old bread at home. If we are in fact going into a terrible recession, like the media is promoting, then everyone should cut their spending down to a minimum and wait it out. This of course will create the recession because of the media induced fear.
Since most of those shoppers are buying those $30 meals on credit cards, the media continues to be correct as our debt is at an all time high.

Its only a matter of time till we see a recession. When home prices have doubled in the last 7 years due to creative financing and artificially low interest rates, there has to be a down cycle to fix this over inflation we have seen.
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Old 01-17-2008, 01:18 PM
 
Location: southern california
57,207 posts, read 76,221,394 times
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media gets it right once in a while?
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Old 01-17-2008, 01:32 PM
 
Location: mississippi
80 posts, read 256,697 times
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They say....Only bad news sells. Really, prices could not continue to escalate. I was hoping that normal forces would control the price, but when lending practices came to the forefront it causes more concern. When the big boys hurt, it trickles down.
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Old 01-17-2008, 01:32 PM
 
8,603 posts, read 7,711,907 times
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the squeaky wheel gets the grease. right or wrong. public pressure on the politicians is applied through the media.
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Old 01-17-2008, 02:34 PM
 
Location: North Adams, MA
746 posts, read 3,216,952 times
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The recession has been underway for some time, it is about time the media started reported what has been obvious for some time.

I know that we are not "technically" in a recession yet, but the measurements will soon confirm what everyone knows.
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Old 01-17-2008, 03:58 PM
 
1,735 posts, read 4,282,713 times
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There is a real recession coming. You can’t have the high levels of foreclosures that have and are yet to occur and not have some “real job” loss as a result.
I know several people in the banking industry that have been laid off.
House prices in places like CA are dropping every day.
Housing starts are the lowest in 27 years.
Outsourcing has sent once high paying jobs to other countries that will never come back. Those that have been effected are now lucky to get 50% of what they were paid before.
Factory jobs have also gone overseas and most of the workers will work the rest of their lives and never see the pay they were receiving.
All these displaced workers used the services of the “paper pushers” that think this isn’t happening. The displaced have felt the pain, now the paper pushers will start to feel it too. At least most of the “working class displaced” have the skills to survive any recession, can’t say the same for the entitled “I have an MBA” where is my office with the window crowd.
It may be an entertaining thing to see these people that have never even washed their own car struggle to survive if it gets as bad as they say it will.
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Old 01-17-2008, 04:22 PM
 
Location: The Conterminous United States
22,559 posts, read 48,114,111 times
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Yep. That's it. The media made the whole dang thing up.

They created the shaky mortgage loans, they created the record foreclosures, they created the billions lost by the banking industry, they created oil reaching $100 a barrel, they created people losing their jobs, they created the fact that we make very little in this country but send our manufacturing abroad, they created the stock market tanking.

Excuse me. I have to adjust my tinfoil hat.
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Old 01-17-2008, 04:47 PM
 
419 posts, read 1,867,443 times
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Quote:
Originally Posted by hiknapster View Post
Yep. That's it. The media made the whole dang thing up.

They created the shaky mortgage loans, they created the record foreclosures, they created the billions lost by the banking industry, they created oil reaching $100 a barrel, they created people losing their jobs, they created the fact that we make very little in this country but send our manufacturing abroad, they created the stock market tanking.

Excuse me. I have to adjust my tinfoil hat.
Yes they did create all those things by constantly talking about the negative and scaring everyone to death. By the time they are done everyone will be living on peanut butter sandwiches.
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