Is Recession Only Media-Driven?

KS said, “Why can’t the media stop driving recession? I’d rather turn off the telly and get on with my life.”

Tell these people whose jobs are going overseas that it’s media driven.

Hey folks! have a nice day! Take a vacation, buy a pool!”

It’s absolutely not media driven. The media may be contributing to the fear, but they certainly aren’t *DRIVING* it.

It would be entirely irresponsible for the media to say to the public :

“*IGNORE* that you’re paying 30% more for gas. *IGNORE* that you have less money after paying your bills. Ignore that your pay has been declining for the past 5 years. *IGNORE* that you have no equity in your homes to take out home equity loans. You, the general public need to go out and spend the money you no longer have! Be happy, spend money! Get this economy rolling again!!”

Frankly, if you don’t have it to spend, and if you can’t get a loan against your assets, then you don’t spend.

In our corner of the world, it’s a 30% higher fuel cost, leading to higher transportation costs, higher heating costs, higher food bills and lower disposable income. It also doesn’t help that for 100 years, we had factory jobs that paid twice the national wage and those jobs have now gone overseas.

Feel free to complain about a “media driven recession,” but nationwide, people who follow the news – and those that don’t – are all feeling the pain of higher prices, lower disposable income.

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