Sea Lion on Sea Doo

  • Photo_060907_007_2
    Here are some photos taken with my treo 700 of a Sea Lion that joined me on my Sea Doo about 5 miles off the coast of Ventura CA
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October 04, 2008

Comments

No doubt we're experiencing a serious economic slowdown. The question I have is, "are consumers not spending because they're feeling a pinch, or are they not spending because they were TOLD that there's a pinch coming, and this spending holdout is, in turn, hurting the economy - thereby creating the pain they were told to expect (or perhaps making it worse)?" That is to say, did our leaders make a bad economic situation worse by inflating the significance of the situation to the typical consumer, lowering everyone's confidence and income in the process?

Is this a perfect storm of real but solvable issues with financial institutions, high foreclosure rates, tight credit markets, and the politicians and talking heads making it all far, far worse by spewing a self-fulfilling prophecy of doom?

Mr. Greenspan (who, I believe, should be hung by his testicles for his role in setting this economy up for this totally avoidable fall), once sent the market into a tailspin by uttering two words - "irrational exuberance". Is it so unrealistic to suggest that having every talking head and every politician on TV for three weeks straight talking about how bad it is, might itself be incredibly damaging to the markets and the economy as a whole?

Of course, how/why it started doesn't matter much if Fry's stays empty.

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