This is a debatable topic. I feel like my answer would be, yes. There is no denying the facts of the global financial crisis because the effects are being felt worldwide and especially here in the United States. I think it's one thing to be informed and watch the news networks, but is our constant need for information poisoning our economic choices? What's to say a stock holder sees a report on one of the money reporting networks and happens to see a forecast of negative news about their particular holdings. Whats to say this information is right? Or is it hear say just to create mild panic and catch your attention for a minute during sweeps? What does the investor do? They dump, sell ..whatever the term is...bottom line, if major investors pull out, they break down the stability of the stock system, which then breaks down the stability of the economy --when this happens in masses. (which it has) Kind of reminds me a little of the movie, "Wall Street." We all know its just not the stock market, but everything else in the economy being reported on, whose giving you the right information without panicked headlines and full of ratings BS? Remember television is a business too, they're just trying to survive. If you like panic stricken headlines then they will give you panic. So, is the media creating false panic and a negative economic ripple effect on a global scale?
By the way, all of this matters to me regardless of my age or background. In fact, this should matter to everyone of my age group and background. Its our future, not the corrupt jackasses selling Senate seats like tickets for a Yankee Stadium seat. Ugh.
When Paulson and Bush were selling the $700 billion Wall Street bail-out, they told us we'e have "financial Armageddon" if it didn't pass.
Many people who heard that immediately got very cautious about spending money. So sales go down, salespeople lose their jobs, shelf stockers lose their jobs, manufacturers lay off workers, etc. It has been a bit of a self-fulfilling prophecy.
Let's hope we can bounce back quickly for 09'
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