We read and hear a great deal about how "bad" our economy is, and how a "recession is imminent", and how the "sub-prime/liquidity crisis" will spread economic havoc everywhere, and how "we'll all lose our shirt in the market/in our investments/in the values of our homes" from many media and blogosphere sources far and near. The beating of the Bad News drums is merciless, incessant, and stultifying.
An example of "far" would be the obnoxious political hack cum economist, Paul Krugman, and an example of "near" would be our very own (King)fish blogger, Ed Cone. They all have one thing in common: To undermine public confidence by talking the economy into a recession in anticipation of next year's election.
Captain Ed is on top of yet one more story where good news about the economy and consumer confidence is painfully absent, as has been the case for the last six plus years.
Excerpt:
"Retailers expected a boost between 4-5% on "Black Friday". They got almost twice that, as shoppers flooded the malls on the day after Thanksgiving, the traditional kickoff of the Christmas shopping season. Consumers shrugged off the credit crunch and the rhetoric of the doom-and-gloom Democrats, who promise that poverty lurks just around the corner."
I am sick and tired of the nonsense.
Do problems in the economy exist? Should we just ignore them?
Yes, of course problems exist, but not to the extent that these Usual Suspects would want you to believe, and no, we shouldn't ignore them, but no, we will NOT let these things be magnified into a disaster by those who want to use bad news to achieve political, social, and economic power.
Any time I see an article or a post which beats this particular doomsday drum or patently ignores positive things about the economy, I will counter it with as intense a response as I am capable.
No comments:
Post a Comment