U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-16-2008, 07:52 AM
 
Location: Way up high
15,231 posts, read 21,762,940 times
Reputation: 17132

Advertisements

I may be completely wrong but does anyone else think that the media, all outlets together, is blowing this up completely so people panic therefore setting off a tremendous downward spiral???? I was listening to talk radio this morning and the guy on was basically saying the world is coming to an end and people will be living/starving in the streets, etc. I mean I totally don't see a recession here at all where I live, Charlotte, NC. The malls were/are packed even before the holiday season. Restaurants still have hour waits on weekends and high end dealers here are still selling cars. I understand people are losing jobs due to mergers, etc but that would happen anyways and would it be so mediaoritzed (I know not a word) 1 year ago?? What do you guys honestly think????
Reply With Quote Quick reply to this message

 
Old 12-16-2008, 07:58 AM
NCN
 
Location: NC/SC Border Patrol
21,132 posts, read 22,493,791 times
Reputation: 23251
Well, I live in the Charlotte area too and when I don't watch the news, everything goes fine. I retired 2 years ago and now have time to watch TV. I did not know how lucky I was that I never had time to watch it before. If you are watching CNN and MSNBC you are not getting facts, you are getting propaganda. I don't know about you, but I don't need it. So I just don't watch them anymore.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 08:50 AM
 
Location: Los Angeles Area
3,306 posts, read 3,556,211 times
Reputation: 592
I don't think the media is blowing this up, in fact they are still not reporting on what is really going on. They report on things after they are obvious, because they are pretty much advertisement machines now.

Anyhow, simply look at the data. Its all rather bad. Just because there are people in a mall doesn't mean there isn't a recession. After all, people walking around in a mall doesn't generate revenue for retailers. They have to actually purchase things, and consumption is dropping dramatically.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 08:57 AM
 
19,091 posts, read 20,662,825 times
Reputation: 8361
Its easy to see people shopping and buying... what you don't see is the MOUNDS of GIGANTIC size debt they are carrying around and NOT paying down... You see them "living the good life" but what you don't see is the 99% of the time they are living the "hobo life"... Just look at the data... unemployment, down stock market (people already lost HALF of their retirement), etc etc... that means things are NOT going well and people can pretend to be well off the 1% of the time but it don't mean squat when 99% of the time they are suffering...
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 08:57 AM
 
1,956 posts, read 4,863,247 times
Reputation: 1113
You have to remember that during the Great Depression, when entire families turned into migrant workers and lived in shantytowns, 75% of people still had jobs, still went to stores that were open, still lived more or less normal lives. There were some very rich people as well.

Recession/depression (we're on the border between the two) does not in any way imply chaos, anarchy, and starvation.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 09:10 AM
 
Location: Great State of Texas
86,068 posts, read 74,746,517 times
Reputation: 27602
Quote:
Originally Posted by evilnewbie View Post
Its easy to see people shopping and buying... what you don't see is the MOUNDS of GIGANTIC size debt they are carrying around and NOT paying down... You see them "living the good life" but what you don't see is the 99% of the time they are living the "hobo life"... Just look at the data... unemployment, down stock market (people already lost HALF of their retirement), etc etc... that means things are NOT going well and people can pretend to be well off the 1% of the time but it don't mean squat when 99% of the time they are suffering...
Because we are being told this is just a recession and it will turn around.
It took them one year to finally admit recession. There are so many people I talk to that think things will turn around now that we are in a recession because once the government says it, then we've hit bottom and are recovering. I think this one is different and I'm being extremely prudent and cautious; planning for the worst and hoping for the best.

Will it take them another year to admit we've entered a depression ?
You can be in a depression but not a great depression.
Severe recession is what I'm starting to hear on the MSM.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 09:13 AM
 
1,956 posts, read 4,863,247 times
Reputation: 1113
Quote:
Originally Posted by HappyTexan View Post
You can be in a depression but not a great depression.
Severe recession is what I'm starting to hear on the MSM.
The 1930s depression was a Great Depression because of the wrong kind of government interference in the economy, which combined with a lack of a social security net, seriously screwed a lot of people. A normal deep recession/depression (no real difference) does not have to result in all of those negative social consequences.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 09:39 AM
 
Location: Great State of Texas
86,068 posts, read 74,746,517 times
Reputation: 27602
Quote:
Originally Posted by StoneOne View Post
The 1930s depression was a Great Depression because of the wrong kind of government interference in the economy, which combined with a lack of a social security net, seriously screwed a lot of people. A normal deep recession/depression (no real difference) does not have to result in all of those negative social consequences.
I agree with you. Times are different and results will be different.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 10:30 AM
 
28,453 posts, read 73,459,854 times
Reputation: 18485
If you pull down the spreadsheet from the BEA National Economic Accounts and look at quarter to quarter changes in constant dollar GDP the current situation is rather unremarkable. As recently as 1958 there were q-2-q downturns of nearly -3%, in '80 there was -2.06% downturn.

A depression would be, by their common definition, a period over which GDP falls 10% -- that would take a whole lot of quarters of the -0.13% decline of '08 q3 -- like through two or more presidencies -- I just do not see that happening, ever.
Reply With Quote Quick reply to this message
 
Old 12-16-2008, 10:40 AM
 
Location: Hope, AR
1,505 posts, read 2,854,766 times
Reputation: 248
I know a bunch of people who were laid off recently, and someone whose business is getting less customers. So I don't think it's made up.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top