Welcome to Global Meltdown!, page 2

reply to post by elston

I think you and cpdaman are getting my drift, at least in part. First, ATS has plenty of interesting sites and forums, so i don't have to leave ATS for good times. Second, I do believe that the media does not sell boring, it sells drama, catastrophe, and sensationalism. No one wants to hear about girl scouts helping an old lady across the street. People want to hear about death, dismemberment and people getting their asses kicked royal. The world suffering a "global meltdown" gains veiwers and sells newspapers.

The media has a lot of lee way in how they present the news. It is still honest, but sensationalistic. That is why they do not state a reassuring but boring, "employment rate is 93%" rather they harp an emotional and anxiety producing "7% unemployment." It's honest, yet, sensationalistic keeping people glued to the TV set. Even if there was a 25% unemployment rate, the fact that there is a 75% employment would never be mentioned. Because of the way the news is presented, people panic, and a disasterous domino effect occurs, as happened during the 1929 depression. "Panic" is what caused the great depression. Lousy investments were made much like what the banks today have done. Speculators started selling in "panic," and at first it was just stock market investors, but the banks followed when ordinary people "panicked," after hearing the news about the stock market crashing, and erroneously fearing the banks would not be able to cover the bad stock market loans, took their money out, exacerbating greatly America's economic situation, and causing investment to drop drastically. No money in bank, no money to loan businesses. A vicious cycle ensued, no investments, no businesses, no businesses, no jobs. We had bread lines, and there was a 25% unemployment rate. I am not seeing breadlines yet, hopefully I never will, but this tells me that there are a lot of businesses still viable, and will remain so as long as people can see the light, and not panic.

As to citing references to determine the number of businesses that are currently viable, I did not expect this forum to be so scholary, otherwise I would have spent time researching nit picky points, points that are irrelevant to what I and possibly others already know..., that "We will get through this mess!" We have done so before, here in the U.S., and we will do so again, regardless of the obstacles.

The truth be known, I am unemployed, and trying to land a job is turning to out be difficult. My wife is losing her job in April. I am optimistic, though, that as long as I have two hands, and two feet I will find work, so will my wife. We will survive. I just wish other people could express more optimism rather then being fatalistic and giving in. I am not just going to lay down and die. Others may do so, if they wish, but not me, even if that is what the "numbers" indicate we should be doing...

I do not believe we are going into a global meltdown. If we do, it is only because of self fullfilling prophesy. That is all I am trying to say. Disagree if you wish. I will not rebutt you. I will move on, as I am probably missing the point.

So, if you will excuse me, I want to see some cool ATS crypto sites, before I turn in. I have an interview tomorrow. State Hospital, recession proof. Caio.