Too much talk about recession
There's a lot of talk in the news lately about recession. This is only feeding the cycle. The more you talk, the more people believe it and the more they believe it the better chance of it happening. We do not have an economy based on gold anymore, not sure if we really ever did. Our economy is largely based on psychological factors. It only works because we all agree that it works. Once we all start agreeing that it is not working, well....
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I try not to listen to the "experts" or pundits too much when they talk about the state of the economy. If Alan Greenspan says something, I might listen, but otherwise it usually seems to be useless gab.
Most people look at the economy based on how they are doing. It's been said that when your neighbor loses his job it's a recession, and when you lose your job it's a depression.
Right now my neighbor and I both have jobs, so in my experience the economy is doing just fine. But if I watch too much news I might get scared and stop shopping for the things I want and that might affect things, proving your point Joe.
The only real solution I can see here is people just need to watch less TV. That might solve a lot of our ills.
Joe's replies....There was a big article in the ER today on 5B with the large title "Odds growing that the economy will slip into recession." I think the news media needs to be careful about how they are presenting things.
Posted by: dane langston | January 14, 2008 03:20 PM