Wednesday, December 3, 2008

State of the Economy: It Ain't Necessarily So

My last entry discussed the state of the radio broadcast business and my recent escape from the downturn in that industry. The economy may not be as bad as everyone makes out but it seems the media have nothing better to do than harp on it ad nauseum. The presidential campaign occupied the press so deeply and so long, over 18 months, there's a huge void to fill. And filling it, they are, with gloom and doom and little to look forward to. Congress isn't helping. The $750 billion dollar bailout may be just the beginning of more economic woes, most of which will be heaped on the little guys: you and me.

I work with people in business on a daily basis. Northern New England is a cautious region when it comes to spending money. I don't think we are anywhere near as vulnerable as other parts of the country but we are subject to the same network and cable network naysayers who raise their ratings and the rates with negativity. Pointing this out to my clients doesn't hold much water when every Tom, Dick, Cramer and O'Reilly won't shut up about how terrible things are.

If we have to tighten our belts, how bad is that? Perhaps we can all step back and take a break and wait for the tide to turn. I just wish Congress would step in and help the average person...yes, Joe Six Pack, you, me, instead of rewarding these guys who mismanage their companies then come crying to Washington for a handout.

1 comment:

Nancy said...

Boy, I couldn't agree with you more! If people would just be patient and continue to pay their mortgages, even if they are underwater at this point, and give the economy some time to heal, we would all be better off. In some cases, that I know of, panic has led so people to abandon their responsibilities. In the meantime, our esteemed president is giving the bankers, who caused most of this misery, a free pass! This administration has completely raped and pillaged our country. But, I also agree that it is time for Americans to look at their lifestyles, and what effect our consumerism has had on our culture and environment.