It seems to me that much of this recession is driven by the media "talking heads" crying out that the sky is falling. I've talked to business owners who have laid off and cut back although their businesses are doing well because they believe it's about to hit.
As I review American history, it seems that many economic downturns are driven largely by people's perception. Sure, there are market corrections. The market does go up and down. But severe downturns are driven by panic. In today's fast pace, information saturated world, we're seeing that panic take place at a faster and faster pace.
I really like the Coyote Blog for his calm, even handed coverage of what is happening in the economy. Like me, he's a small business owner and sees first hand what is going on.
Now, if we can get the politicians to read his blog, start thinking things through, and stop acting like Chicken Little. The sky is NOT falling. The economy will be better than ever before too much longer.
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