
I'm going to drop a challenge. I challenge you to flick on the news, or read your favourite major news website, and not hear or read the word "recession". Make no mistake about it. You will hear this word.
The word "recession" is a scary word, no question. None of us say "it’s a recession! Yesssssss!". It’s a word that evokes fear. This is what the media is counting on. They need you to feel scared. They know that fear will instantly grab your attention, which will make you watch the news, spend more reading time on the website.
You will now watch the news, you will analyze it, determining if any of it affects you. Will I lose my job? Will my holdings plummet in value? However, what you will also do is watch the Acura commercial, also the Arby’s ad, and maybe even a commercial telling you about an exciting new program which is on later on tonight, so you can watch it and see MORE commercials. See how it works?
It’s a media fear competition.
It’s the 2009 "Fear Olympics".
First up, Britain:
Warning of Worst Recession in Decades
http://business.timesonline.co.uk/tol/business/economics/article5529671.ece
Next up, Spain
Spain Faces Worst Recession in 50 Years
http://www.bloomberg.com/apps/news?pid=20601085&sid=aQYlaf0MK4zc&refer=europe
Spain Faces Worst Recession in 50 Years
http://www.bloomberg.com/apps/news?pid=20601085&sid=aQYlaf0MK4zc&refer=europe
Now, it’s the U.S.
Fed Warns of Worsening Recession
http://money.cnn.com/2009/01/06/news/economy/fed_minutes/index.htm
Finally, here’s Canada
Canada Heading into 9 Month Recession
http://www.cbc.ca/money/story/2009/01/14/conference-board-outlook-january.html
Canada Heading into 9 Month Recession
http://www.cbc.ca/money/story/2009/01/14/conference-board-outlook-january.html
Who wins the Gold? No one! We're in a recession, dammit!
Scared yet? Even if you are in a secure job, with a decent cashflow position, all this news might make you think twice about buying that new Fridge, or that new Honda, or buying that vacation package. This is the problem that more and more voices are beginning to identify.
Scared yet? Even if you are in a secure job, with a decent cashflow position, all this news might make you think twice about buying that new Fridge, or that new Honda, or buying that vacation package. This is the problem that more and more voices are beginning to identify.
It’s the whole "Psychology of Fear" thing that the media does so well. Good for selling commercials. Bad for the Economy.
The articles are starting to crop up now. But don't look for them on CNN, CBC, or the BBC. You'll have to really look.
For example,
Media coverage adding to economic woes
http://www.google.com/hostednews/canadianpress/article/ALeqM5gBNyRT8wbkC737R0yxGk_GHhfY2w
The psychology if ‘recession’
http://www.lavalnews.ca/articles/TLN1701/editorial170101.html
Media coverage adding to economic woes
http://www.google.com/hostednews/canadianpress/article/ALeqM5gBNyRT8wbkC737R0yxGk_GHhfY2w
The psychology if ‘recession’
http://www.lavalnews.ca/articles/TLN1701/editorial170101.html
I figure around April, people are going to tune out the whole "recession-talk" thing. Then the people will open their wallets again, they will buy the Fridge and the Honda, the economy-furnace will stoke-up again.
4 comments:
It maybe a coward's way out but it's the perfect time to purchase a boat and sail off into the sunset.
If the sailor could buy his/her boat in 2009, and thumb their nose at the recession, that would be good for the economy. So long as they spend money. Preferably in their home town.
We plan on doing our part for the economy by starting to plan our November trip to DisneyWorld. Last time it was the Beach Club. This time we're looking at the Yacht Club.
Up YERS, recession!! Bite me!
I checked Glenmore Sailboats for a decent ocean-going vessel and only found a McGregor 26. Looks like I'll be propping up Florida's economy too, like our friend Mr. Boutet is doing right now (in a cowardly fashion).
Well, I'm all too guilty of propping up Florida's economy too.
If we could only convince a certain person who vacations in Cuba to keep his money in North America....
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