When a few folks pull back their spending to reasonable levels, the economy can absorb it. But when everybody stops spending at once, the recession set in. When gas prices hit $4 a gallon AND the stock market swooned from 14000 to 8500, there was simply no money TO spend. Disposable income disappeared, and wealth, as in retirement savings, disappeared too.
So we're going through a major market adjustment. Turning off the TV won't stop it, it won't fix it, and it won't make everything better anytime soon. To tell everyone to go back to spending reasonably, when so many are already either out of a job or are on shaky footing in their current position....well, it's not gonna happen, because the money's simply not there. You can't refinance your mortgage, even if it's just to stretch the terms and lower the payments, if you're out of work.
Lots of folks may have seen this coming; I did, and I'm not particularly perceptive. But lots of folks, including me, made their plans and preparations for this based on the assumption that they'd still have their job...which many of us now don't have.
So whether you watch TV or not, it's going to get a lot worse before it gets better.
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Today's Featured Article - Product Review: Black Tire Paint - by Staff. I have been fortunate in that two of my tractors have had rear tires that were in great shape when I bought the tractor. My model "H" even had the old style fronts with plenty of tread. My "L" fronts were mismatched Sears Guardsman snow tires, which I promptly tossed. Well, although these tires were in good shape as far as tread was concerned, they looked real sad. All were flat, but new tubes fixed that. In addition to years and years of scuffing and fading, they had paint splattered on
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