Are we dumb or economists are trying to fool us?
Economists love to say what they say. They love to be authoritative. They love to be considered as benchmark. They love to be followed. They love to make predictions …
People are used to listenening to what they want to listen to. People love to be lead by. People love to look up to benchmarks. People love to follow. People love to listen to the predictions …
On top of it comes the Fed, other government guys, Dow big boys, Wall Street big boys and some more high powered groups.
Is it official that US is in recession since December 2007? If they are declaring it now, after a year, then they’re too late. Were they sleeping or were they waiting for the numbers for entire 2008? I thought, recession was attached to the negative GDP and GDP has not been negative, so ? Who is anyway declaring that it is already recession in US?
‘Recession’ term doesn’t matter anyway, because no matter what they say, millions are losing jobs. For them it may or may not be recession, but for commons, it sucks to be in this crappy economy. For those who are losing their homes in short, bankruptcy, foreclosures, etc whatever you call it, it’s a pain in their ‘everywhere’.
Oil prices are rock bottom and middle-east oil-wealthy nations are cutting back. Blue chip companies are suffering, some almost getting saved from the verge of bankruptcy. Tax-payer money is being guzzled by likes Citi, although it would hurt if the company goes bust and people would lose jobs and mortgage would become difficult … One way or the other it comes back to the tax-payer (not much to the big-shots who earn hefty, mind that).
One days news is that Merril CEO Thain is demanding $10M bonus for 2008; and the next day news is that he’s requesting not to take any bonus for 2008; what is all this?
People avoid plastic bags, containers, and buy hybrid cars to do their part to save the environment from pollution and save exhausting oil.
Read this:
If the world was the size of an apple, oil drilling has just been in the peeling so far. There are thousands of volcanos in the world, many have been in existance from the beginning of time or at least in recorded history. They exist because of fossil fuels; we know that because of the material in their eruptions. One volcano can spew more pollution in one day than the entire US makes in a year.
If there is a minor variation in the chemical balance deep beneath the earth, it will wipe out a considerable portion of the world land! Does pollution of land by humans really matter then?
So how much part are we doing in preserving fossil fuels and preserving environment from vehicle pollution? Does that relieve you that you’re not the main pollutant?
My point is:
When Wall Street indices are high, everybody (I’m talking about big boys only) is high too and they raise the adrenaline level in the poor, stupid commons. This is what we call hype. People go crazy about everything: buying, selling, pushing prices up …
And, then the Wall Street indices start going south, big boys declare that it’s almost end of the world!
So, how much really does all this matter to me, for a pound of my grocery?
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