Archive for February, 2009

OUR ECONOMIC WOES

Wednesday, February 18th, 2009

Let me make a couple of points. First, a credit crunch arises in an economy when a meaningful number of people come to believe that they might not get their money back from their bank, stock investment, etc. Given this, repeatedly telling people that they are likely to lose their investments and then jobs if they do not support a candidate or vote for bailout legislation, is the height of lunacy. No wonder we are seized by this credit crunch.

Second, people pay $3 million for a 30 second super bowl ad because by and large advertising on television works. Wouldn’t you thus think that several years of media bombardment telling us how poor the economy is might have a similar effect? We used to call it Bush bashing, then election politics, and now bailout, but it is all media advertising, and the message has been the same.

Who is surprised by where we have come to?

Jim