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Isn't all the talk of a recession, in it's own way- a rather self-fulfilling prophecy....kind of


I have ALWAYS thought that.The news media creates reality in peoples minds

The Oracle:

It so does to a large extent, doesn't it?


Yes, I agree with everything that your saying, but given the stock market drop once again today, that is no lie!

The Oracle:

Yes, but isn't the reason, at least in part, that we see these drops is because of the rumor mill and fear (and fear and loathing) feeds on itself?


I do not believe that it is self fulfilling as such. We need the news correctly reported. However, we do not get the news correctly reported as news does not sell unless it is sensational. But for a recession it is always inevitable because it is something on the order of a balancing act where it helps to balance out the inequities in the market and the jobs. Supposedly this helps remove the surplus from the stockrooms and keeps the market moving. Then things will start to look better and more people will have to be hired to fill the jobs to replenish the goods. It helps to weed out poor businesses and makes the market more secure. This is just a small sampling of how it works but may give you an idea. It helps pull the plug on some of the rich cats while keeping things even for the lower class and keeps the middle class from spending so much out of fear.

The Oracle:

I'm sorry, this one I have to disagree on....I don't know deep economic theory, but I don't think you necessarily have to have a deep recession to balance things out, nor do I think it pulls the plug on rich cats....the rich always profit from adversity: they are the ones who can sustain it, they are the ones who an buy the foreclosures and profit from them later....I think fear breeds fear and the more negative the picture is painted, the more it actually becomes so.


Certainly everyone has a right to their opinion. However, you need to have a little basis to object to the economic theory. Nothing was said about a deep recession anyway. The term as I recall said recession. But again, just read about some of the thinking about what a recession does and why it is needed and then by all means you have a right to your opinion.


It is the angst of our zeitgeist.
When only no news is good news.

The Oracle:

Good point, very good point, russ.

Literally Speaking ™:

Meh I don't worry about such things anymore, I have a federal job. The gov ain't gonna go broke anytime soon and job security allows me to apply this thinking to my mediocre upper middle class life.


The Oracle:

Well, I think it's already broke! We're so far into the National Debt, it ain't funny..borrowing money to borrow more money and paying interest on interest on interest....I don't know....

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