PRESIDENT GEORGE W. BUSH Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Neocon who wrote (125952)	2/7/2001 2:49:41 PM
From: swisstrader	Read Replies (3) of 769670

This article shares my belief that all this recession talk by both the media and the man in the White House is or rather will be a self fullfilling prophesy and that much of this is simply based on perceptions and ratings for media coverage, vs what is actually happening here...how is it we went from a raging US economy just months ago to the now doom and gloom scenario?...read both the link and the article: thestreet.com "While the media have let up a bit on the gloom-and-doom headlines and talking heads since the Fed began easing, I found it quite interesting to see that Barron's Gene Epstein attributed some of the plunge in consumer sentiment to the media. I had spoken with Fox News' very savvy Neil Cavuto late last year about my belief that the media were helping to make a recession a self-fulfilling prophecy in a race for ratings. I had specifically pointed out that Bill O'Reilly's ranting was inflaming economic fear among his considerable audience. Well, Neil was back on Bill's show again last night, and he also agreed with my position that the media have to shoulder some of the blame for the precipitous drop in consumer confidence. (He doesn't share my belief that a near-term recession is in the cards. I certainly hope that he and Epstein are right, but the debt overhang leads me to believe that they're not.) Maybe the ongoing Clinton comic tragedy will keep the broader news media otherwise occupied, but I expect that Americans will be hearing more about the economy along the lines of Newsweek's cover story, "LAID OFF: How Safe is Your Job?" Not only has corporate and consumer debt risen sharply over the latter part of the boom, the notion that this time really is different permeated the atmosphere. Many proclaimed the end of the business cycle. The economy was expected to continue at full employment with no inflation, and the stock market would continue to move higher until retirement, no matter what your age. The overriding sense of well being and entitlement is apt to make it far more difficult than in the past to regenerate enough confidence to get most folks to borrow and spend at anywhere near previous levels.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next