As I've been watching the now-global financial meltdown unfold, the bleating from the talking heads and self-promoting 'experts' has reached deafening levels. All kinds of solutions are touted as “The Answer”, when what they really are is guesses, and wild-assed guesses at that. The same loud noise can be heard from Congress and at least one of the presidential candidates (I won't say who, but you can probably guess).
The one effect all this talk has had has been feeding the fires of panic on Wall Street and Main Street. A talking head says this is not a good time to be in stocks and people start selling off their holdings, which makes the whole situation worse. Frankly, everyone should just SHUT UP!! People should turn off the TV news, stop reading the financial sections of their newspapers, and change the radio station on their cars to some easy listening or oldies station. They should give the meltdown news a rest for a week or two, don't do anything in regards to their portfolios, and just keep on keepin' on. We might find that, given those conditions, the stock market will stop its volatile swings and heavily downward trend. Right now, 90% of the problem in the market is people panicking because of the news they see or hear and their reactions to the news. It's a vicious cycle that must be broken.
I for one, am going to sit down in front of the TV, fire up the DVR, and watch Stargate Atlantis, Sanctuary, or Most Daring. I will not watch the new reports about the economy. I will endeavor to ignore posts on the web about the economy. Heck, I might even stop writing about the economy for a day or two...maybe longer. (Then again, maybe not...*sigh*).
No comments:
Post a Comment
Comments are welcome. However personal attacks, legally actionable accusations,or threats made to post authors or those commenting upon posts will get those committing such acts banned from commenting.