I know the economy is lagging, but the media is making it worse by beating it into the ground. It's just like the gas crisis we faced this last summer. Things are bad enough, but when the media shoves negative story after negative story down our throats, it makes it seem much worse than it really is. The result is a snowball effect of fear smothering our spending, which perpetuates the downturn.
Take the wife and I for example. We have largely been unaffected by the recession. But every time I think about buying something, I stop and think, "well what if I lose my job? What if my life goes to hell tomorrow?" And the only reason it crosses my mind is because every article I read is telling me that this is going to happen.
Sure, we won't be selling our house anytime soon and we lost a little in our stocks. But we have a place to live, and we didn't plan on using our retirement anytime soon anyway. I know some people have been crippled by the economic downturn and that sucks, but the media is helping the cause with their constant doom and gloom. It's scaring off those who actually have the ability to spend. And we won't be able to right the ship until the willing and able start opening their wallets.
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