Listening to the major news programs like CNN, NBC, CBS, and other major network media one would think that the US Economy was going to crash and create a major global depression sending the entire world into a downward spiral. While in school at UT, I major in Economics and it has always been a interesting how capitalistic markets respond to major shifts in the equities markets. Last week while sitting in the parking lot of Walmart I noticed a lot of people coming and going in and out of the store and did not appear from what I saw that day that people were worried about spending money.
The cover on the TIME magazine last month showed a soup line from 1920's during the great depression which sometime pictures can create a perception of things that are not really true. I wished they had instead used a picture of people standing in line at an Apple Store for the new 3G iPhone. I witnessed this myself at the green Hills Mall in Nashville Tennessee last month. This was 3 weeks after the new iPhone was launched and their was still a line of people wanting to purchase this new phone. Now if the economy was so bad would you see people standing in line for a cell phone?
Unfortunately the national media has made this slow economic time seem even worse with the constant news of how bad things are. Yes it is bad for many people who have lost their jobs and others who are having trouble making mortgage payments on their ARM's. I wish the major news media would be more positive in their reporting.
No comments:
Post a Comment