Got the economic blues? Blame the media.

The Conference Board of Canada notes that media obsession about the economy is contributing to the lowest level of consumer confidence since the recession of 81-82 (an era which didn’t have 24 hour business tv challenges, the internet or much consumer investing in stocks.) I think the Board has a point; governments around the world are being pressured to do something, anything, which seems to consist of taking unthinkably huge amounts of money, firing them into the economy, and praying they’ll somehow stimulate the economy. Why not just let the economy sort itself out, kill the incompetent (GM, I’m thinking of you) and let the strong survive, which is how we got out of previous recessions.

Canadian Press, Jan. 7 2009


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