News Flash!!! The government does not control the economy. This is something most politicians don't understand. In the race to be the next president, both Obama and McCain each claim to have their own magic wands for fixing the economy. So no matter who wins, we all win, right?
OK, so if the government doesn’t control the economy, then who does? The media does! It’s all about perception. The economy in general is as healthy (or unhealthy) as we believe it to be. When we’re scared we stop spending. When we’re feeling confident we shop-till-we-drop.
Over the last month or so, all the Chicken Littles of the media have been running around shouting; “The sky is falling, the sky is falling”! The economy is suddenly in a free-fall. Inflation jumps 1% in one month, the most in twenty-five years. The price of GM’s stock fell to its lowest point since Eisenhower was president. Fannie Mae and Freddie Mac are shaking in their boots.
Suddenly, we’re all wondering how we’re gonna cope with this new economic collapse. For the first time in forty-one years of marriage, (same participants) my wife and I are getting serious about living on a budget. She’s even suggested that we give up one car (mine) and she could drive me to work. I may even have to give up my main addiction, dark chocolate, which is imported from San Francisco.
All this panic because the price of gasoline broke the $4.00 a gallon barrier. Of course, one minute later the media starts talking about the price going to $5.00 a gallon by the end of the year. Before we can recover from the first bad news, the media is rushing in to throw more gas on the fire. (You knew I’d work that pun in somehow.)
Well, as of today the Dow is soaring again. The bulls have rushed in to scoop up the bargains that were created by all the panic selling. Once again, the rich get richer and we just tighten our belts. If you live long enough, you’ll see it happen over and over again.
Not too long ago, the pastor of our church said something that stuck in my mind. Between naps, I heard him say that the primary job of the media was to scare us and that we shouldn’t be overly concerned with all the bad news they bring us.
Someone once said, (I think it was me) “If it weren’t for bad news, we’d have no news at all. Therefore, if we stopped watching the news, just imagine how stable the economy would become and how happy we’d be”.
What a concept! Maybe I should get into politics. Ya think?
OK, so if the government doesn’t control the economy, then who does? The media does! It’s all about perception. The economy in general is as healthy (or unhealthy) as we believe it to be. When we’re scared we stop spending. When we’re feeling confident we shop-till-we-drop.
Over the last month or so, all the Chicken Littles of the media have been running around shouting; “The sky is falling, the sky is falling”! The economy is suddenly in a free-fall. Inflation jumps 1% in one month, the most in twenty-five years. The price of GM’s stock fell to its lowest point since Eisenhower was president. Fannie Mae and Freddie Mac are shaking in their boots.
Suddenly, we’re all wondering how we’re gonna cope with this new economic collapse. For the first time in forty-one years of marriage, (same participants) my wife and I are getting serious about living on a budget. She’s even suggested that we give up one car (mine) and she could drive me to work. I may even have to give up my main addiction, dark chocolate, which is imported from San Francisco.
All this panic because the price of gasoline broke the $4.00 a gallon barrier. Of course, one minute later the media starts talking about the price going to $5.00 a gallon by the end of the year. Before we can recover from the first bad news, the media is rushing in to throw more gas on the fire. (You knew I’d work that pun in somehow.)
Well, as of today the Dow is soaring again. The bulls have rushed in to scoop up the bargains that were created by all the panic selling. Once again, the rich get richer and we just tighten our belts. If you live long enough, you’ll see it happen over and over again.
Not too long ago, the pastor of our church said something that stuck in my mind. Between naps, I heard him say that the primary job of the media was to scare us and that we shouldn’t be overly concerned with all the bad news they bring us.
Someone once said, (I think it was me) “If it weren’t for bad news, we’d have no news at all. Therefore, if we stopped watching the news, just imagine how stable the economy would become and how happy we’d be”.
What a concept! Maybe I should get into politics. Ya think?
