http://www.nytimes.com/2009/07/26/magazine/26FOB-WWLN-t.html?_r=2&ref=magazine

Those who hope for a rebound argue that employers, frightened by the financial shocks and the credit crisis of last fall, effectively panicked. That is, they cut deeper than necessary. And that may be.

...

In terms of its impact on society, a dearth of hiring is far more troubling than an excess of layoffs. Job losses have to end sooner or later. Even if they persist (as, say, in the auto industry), the government can intervene. But the government cannot force firms to hire. Ultimately, each new job depends on the boss’s belief — or hope — that sufficient work will materialize. It’s a bit of black magic also described as confidence. Over the years, it is why America has not only attracted immigrants (whose arrivals are now slowing) but also generated more opportunities and — favorite word of politicians — hope for those born here.

I still say the media exacerbates this tremendously. People never have a chance to catch their breath, reflect, and move forward in this nonstop news cycle. They're perpetually inside our loop (http://www.stsc.hill.af.mil/CrossTalk/2007/04/0704Ullman.html).

So what's the problem for people I know that can't find jobs and who don't watch TV?

Their potential bosses watch TV. Read the news. Listen to radio. Have the Internet. Etc.

Recessions are crisis of confidence, confidence to borrow, confidence to lend, confidence to repay, confidence of the consumer, etc. The media is a powerful force in shaping our confidence today.

Well, wouldn't a news story about how we're laying off too many people help in the reverse?

I really can't wait for the internet to kill Television....








except HBO

Well, wouldn't a news story about how we're laying off too many people help in the reverse?

Maybe. I see that information as a good sign overall. Like finding out that a company you want to invest in is trading at less than earnings. Buy!

We need a stimulus check again :) That helped sooooo much last time....


Oh wait, I didn't get one........

We need a stimulus check again :) That helped sooooo much last time....


Oh wait, I didn't get one........

I'll tell ya what....I was in BestBuy yesterday and the place was absolutely packed even long register lines. Squish said...did they give out stimulus money or something....I haven't seen it that busy in months.

I'll tell ya what....I was in BestBuy yesterday and the place was absolutely packed even long register lines. Squish said...did they give out stimulus money or something....I haven't seen it that busy in months.

Those people should have came to my yard sale I had good prices and good stuff :( Saturday was the worst I've ever done at a yard sale...ever. Of course when people come up to you and offer 10% for what you have something marked it's never a good sign. Or when people haggle over a god damn $.25 quarter!!!!

I'll tell ya what....I was in BestBuy yesterday and the place was absolutely packed even long register lines. Squish said...did they give out stimulus money or something....I haven't seen it that busy in months.

There is a mall here (Tyson's Galleria) which is always packed. Nearly dawn to dusk, weekends and weekdays. This place is so big and always so packed they had to build another mall across the street (Tyson's 2). Every time I go in there it is astonishing how packed it is, recession or not. Yet the company who owns the mall apparently just filed for bankruptcy, so who knows.

You have to really view the economy as not a single entity but as a multi tiered thing. certian segments are doing fine and humming along normally but others are hurting. and it's the perception thats counting right now.
That and each segment is of itself multi tiered. for example. 300$ Air Jordans might not be doing all that hot. 25$ dollar Wal-Mart brand shoes are booming.
willing to bet you Toilet paper manufacturers havent really seen that much of a slowdown in the demand of thier products. whereas fancy Bodies(sp) you know fancy European style butt washers are gathering dust.

The everyday economy(the basics) is still there and doing...not great but OK. It's the Zomg we cant just keep up with the Jones's we have to show how much more Uber we are than them even if it puts our grandchildren in debt mentality thats dying on the vine.