I have been for a long time a firm believer that economic recessions are fabricated by society and the media. I can see political reasons behind it as well, but I think primarily the engine behind creating a recession is the mainstream media itself.
People are easy to manipulate. Change one person's behavior ever so slightly, even if it means them putting off buying a new monitor screen for their computer is enough to make a HUGE difference when multplied out by hundreds of millions of people.
Sure, we were told that the reason behind this recession was "
sparked by a financial crisis which was caused in part by the combination of a real estate bubble in the United States and the securitization and deregulation of real estate mortgages in a way which made the riskiness of mortgage-backed securities difficult to assess".
But really... how can something as segmented as a fault in the real estate market cause the entire economy to collapse around the world with tons of businesses laying off people left and right, many of whom aren't even in affect industries?
70% of our economy is based on consumer spending. 70%! You can essentially conclude that the economy is based on US spending our money. I, for one, know that I can be persuaded fairly easily to hold off on a purchase for one reason or another. If I feel in jeopardy of losing income by any means either by something scaring me or what have you, I will hold off on misc. purchases.
Think about the effect this has on hundreds of millions of people. If everyone making a reasonable income in this country (figure 300 million est.) held back on just one purchase of $100 during the recession, thats $30 billion dollars lost in our economy! Everyone reads about or hears about the news in some way shape or form. Everyone has probably heard the scary stories of people losing their jobs and has been slightly influenced by that in some way shape or form.
Your thoughts.
Food for thought...
http://www.foxnews.com/story/0,2933,343671,00.html
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