The Media, Recessions, History and Attitudes

The media would have us all believe that our beloved country has its foot to the floor in a race to heck. Everywhere you turn; there are reports of more business closings, higher unemployment and threats of losses in every quadrant of the nation. People are worried sick about what might happen. What might happen?

I think it’s time to turn off the news and let the big boys play ball with each other. Some of you might think that this is like the ostrich sticking its head in the sand but I know that history has a way of repeating itself. The economy goes through cycles. Let’s consider a few facts.

In the early 1990’s there was a recession, complete with high unemployment rates


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5 Responses to The Media, Recessions, History and Attitudes

  1. baselle says:

    Yes – I thought about this this morning after getting my hit of newspaper article apocalypse. Are these days on an unnatural down, or were we in the last few years on a manic fiscal up?

    I think we are about the same age. The times you cite were bad, of course, if you didn’t have a job. But if you did have a job, as I recall people still laughed, had a good time, were kind to their fellow man … they just didn’t bankrupt themselves in the process.

  2. Frank Curmudgeon says:

    I think that part of the problem is that print journalism is an area where the economic outlook is particularly grim. Newspaper reporters write articles that accent doom because they are themselves worried that their employers may go belly up at any moment.

  3. Orguy says:

    Remember, though, that changes made by both Reagan/Bush and Clinton to the way the unemployment rate is calculated tend to understate current rates of unemployment. If unemployment today were calculated the same way as it was calculated in 1982, the current unemployment rate would be higher.

  4. Rich says:

    One of the themes of the article was that things turn around over time. Although there is some of that in the media. It seels like some people have forgotten this. Especially when it comes to the 401K. Its amazing how many people are pulling out of the 401K at the worse possible time.

  5. Gerry says:

    #3 has it right. Simply look around your neighborhood on a weekday. What are all these cars doing parked in driveways and on the streets? Answer: The real unemployment rate must be twice what the official figures state.

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