NA From Germany, joined Dec 1999, 10763 posts, RR: 9 Posted (5 years 10 months 4 days 7 hours ago) and read 1557 times:
I´m so sick of it. From morning to evening on all channels, the economy crisis, crisis, crisis. The journalists of all stations and magazines seemingly enjoy wallowing in it all day long.
I´m 100% sure that the media is one of the main reasons that this crisis is worse and if they keep being foolish that way will be deeper than it otherwise would be. What else could be the reaction of the normal people but closing there pockets and making it worse? The industry is reacting even worse.
The official predictions for 2009 are pointing towards a 3% recession, the worst our country has experienced since the early 30s. 3%, ridiculous, 3% less in your pocket is almost not worth to mention. Even if it would be 5 or 8%, whats that? Its not much. Hardly anyone would be highly alarmed if he would get 3, 5 or 8% less, no one would radically change his lifestyle. But the press and the industry reaction makes me feel its 20, or even 30% recession!
Imho the press is acting grossly negligent at the moment. Seems they are totally unaware of what they are doing.
AGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 17
Reply 1, posted (5 years 10 months 4 days 5 hours ago) and read 1536 times:
I listened to another speech given by PE Obama today .. his comments were the same old story. He again said the situation is far worse than they even thought it was before. Of course it will require the "governement" (his governemnt) to fix it all for us.
It is classic liberal democrat mush ... and the press keeps regurgitating it over and over.
Dear president elect Obama ... here is the announcement you should make.
We are coming out of the largest economic booms in the history of mankind . The last administration and state goverments mis handeled the success and spent the money, plus more. The past administration should have acted more responsible to regulate the FM's and put closer regulation oversight on the mortgage industry.
In light of this problem our plan is simple. Cut Fed spending by 30% in 2009. Keep the Bush tax cuts in effect until 2011 when we will revisit them with congress. Lower corporate taxes by another 3-5%. Raise the intersets rates back up to 5% to make savings accounts attractive again . We need to stimulate small buisness since they hire 70% of our work force , small buisness tax cuts are the key to our success ..and it will be a focal point of our agenda.
Basically he needs to blame overspending on the Bush administration , his solution should be to cut cut cut. I guarantee if he comes out with this plan the market will be up 2000 points by the end of January. Now that he is in power , he needs to start being more positive ,yes ..alot of the problem is confidence ... he is the one who can lead by being positive . The problem is that he comes from a sector of our society who does not believe this value . He believs that the people of the US are not capable of self sustaining growth , but they need big governemnt to hold their hands.
He will give money to the Unions , and do some "Stimulous" which most of us will not see. Then he will raise taxes on coporations and producers and we will be dust. All of this in order to fortify governemnt as the solution to our problems . The Press has set the table for him , complete with big federal pork chops .
You dig the hole .. I fill the hole . 100% employment !
ACDC8 From Canada, joined Mar 2005, 7643 posts, RR: 35
Reply 2, posted (5 years 10 months 4 days 5 hours ago) and read 1523 times:
Quoting NA (Thread starter): Seems they are totally unaware of what they are doing.
The media is fully aware at what they're doing. They're keeping us tuned in stricken with fear at this crisis which in turn keeps viewer numbers up which is exactly what the media does so well. The German tabloid media (Akte08, RTL Explosiv, etc.) are really good at taking something and making it into some sort of Apocalypse.
Personally, I feel no effects of this crisis. I'm getting my yearly raise in April, my consumer habits haven't changed feels just like last year and the year before and the year before. Having spent the last few days shopping, it doesn't look like the crisis is effecting the spending habits of many of us seeming how full the stores and restaurants are.
NIKV69 From , joined Dec 1969, posts, RR:
Reply 3, posted (5 years 10 months 4 days 4 hours ago) and read 1513 times:
Quoting AGM100 (Reply 1): I listened to another speech given by PE Obama today .. his comments were the same old story. He again said the situation is far worse than they even thought it was before. Of course it will require the "governement" (his governemnt) to fix it all for us
Yep. I hope he is ready for the UAW to come to him crying about big bad GWB and his terms for this loan. We don't need Obama to fix this for us. Just let things take their course and stay on the back of the banks who took bailout money and have not been doing the right thing. If he makes sure they do what they said they would do and not give GM a blank check we will be fine. Not withstanding the left wing media gloom and doom.