Talking us into a Depression
With the January jobs report, the recent recession has become one of the five worst since WWII in terms of jobs losses as a percentage of the work force (I know you may, from reading the paper and listening to Obama, think it is the worst, but it is still only the fourth or fifth worst). Let me compare the job losses and the output declines at this point in the recession for these 5 recessions:
See Coyote Blog
"I ask every business owner or manager I meet for the personal evidence they have of economic cataclysm. Is their business down? And in a surprising number of cases, I get the answer that their business is doing OK, but they are cutting back because surely the worst is soon to come, based on everything they see in the media."
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2 comments:
So if everyone is cutting back because the media tells us things are bad, they get worse right? So does that make the media right or wrong?
It makes the media a bunch of creeps. And why they're considered a laughinstock among people who actually pay attention to facts.
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