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thecommut... thecommut...
 
December 18, 2008 04:49 PM

To what extent is your impression of the economy based on actual experiences or what the media provides?

Everyone knows about it and even some are experiencing it. How are you forming your opinion of the economic situation and what are you doing to counteract it?
Merry Christmas everyone
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williamwac... williamwac...
 
 December 18, 2008 05:24 PM
All economic news is good news.
All economic news is bad news.
All news is economic news.

I wish I could take credit for that but it is not mine. It has been around for years and I have no idea who penned it. If I did, I would certainly love to give them credit.

Actual experiences are the algorithm by which you filter and process the news. Heavy interest on filter. 95% of what you hear on the financial channels is pure crap. 100% of what you hear on the network and local channels is pure crap.

Both are necessary but neither is sufficient to formulate a plan.

I watch CNBC, FOX Business, and Bloomberg, Fox is more general, CNBC is more market oriented and Bloomberg is more news and data oriented.

There are very few people who's opinions are worth remembering. No more than a dozen across all three networks.

Always try to catch anything said by:
Art Cashin
Bill Seidman
Bill Gross
Steve Liesman
Cody Willard
Jonathan Hoenig
Dagan McDowell
Bob Pisani
Rick Santelli
Warren Buffet
Steve Forbes
The list is NOT in any order

This is not intended to be complete but most of the 'popular' names that are not there, were not forgotten. They were omitted for a reason.
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teduncan teduncan
 
December 18, 2008 04:58 PM
It's more based on media stories that are leading the news everyday.
The economy always keeps people interested because it entails their
well being.

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wprugh wprugh
 
December 18, 2008 05:10 PM
Taking advantage of sales and cheap cars I know there are problems, but nothing that dramatically affects me daily on a personal level. I have heard of friends of friends that have lost great deals of money on real estate and investments. I know (from the media) that people are losing jobs and there are very real issues.
Merry Christmas.
Source(s):
http://money.cnn.com/2008/12/18/news/economy/jobless_claims/index.htm?postv...

http://money.cnn.com/2008/12/17/news/economy/deflation/index.htm?postversio...


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mrnemo mrnemo
 
December 18, 2008 06:32 PM
Just because it is on the news doesn't mean it isn't true. There are record lay-offs. People are conserving their resources, and this is reflected in sales numbers and, ostensibly, more layoffs. I see friends being terminated before my eyes. Morale is low across industries. We don't all have a dedicated market data feed, and following some news is better than following no news. People are not as dumb as some would suggest. You don't need to be chaperoned from watching certain channels. I agree that news stories are designed to be prepackaged and pre-analyzed for the typical busy American, and private news means they have to make money (which is why hyperadversarialism is prevalent) but I generally just look at the headlines - if you see something interesting, do your own research - never take the talking heads' opinions as fact, but the crux of a news story is generally somewhat credible. Regardless, I see the effects of this economy all around me - on the news and on the streets, among family and friends, &c. Anecdotal evidence is not reliable, but it can support documented downturns, and we certainly have plenty of evidence that the ____ has hit the fan.

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