Did you read it? Did you hear the good news? No? That doesn't really surprise me. When we are bombarded with such constant negativity by a media that thrives on posting "Toxic Headlines" it is only natural that when we read positive news that comes out, it does nothing to improve our spirits or outlook on the economy. This is due to the fact that for every positive article in the News Paper or on the Internet News source, there are at least dozen negatives ones that overshadow it.
Just today alone we see the great news about Housing starts, which if you haven't read the article on MSN or CNBC, then I will quick you a quick snap shot. For first time in nearly a year something positive in on the news, Housing Starts & Building Permits were up! Does this mean end of the recession is nearing? Not likely, however it is a sign that the things are starting to improve. It's kind of like the first signs of life after a long hard cold winter where everything has been frozen for so long and one day you walk out to your car to go to work and you notice a tree starting to show just the slightest hint of a tiny bud trying to break through the ravaged old wood and show signs of life.
However that news along with the other positive article that came out about about American Economy is Finally Showing Signs of Recovery on CNBC. This article told of small improvements with consumers not swarming but inching their ways back towards shopping malls. They also noted in this article that while they do not feel the recession is over as of yet, the fear or shock factor of past months is dulling the consumer and like all war survivors they are picking themselves up and finally starting to dust off. OK, maybe I interjected some of my own interpretation of the article, but it isn't too far from the truth.
The public can only absorb so many stories of excess greed when they and myself alike, are watching pennies so we can put groceries on our tables and out there fighting for market share in business, that is if we have a job. Today's glaring headline of excess and greed that all the Media is focused on is "AIG" and the excess of the 73 current and former executives a bonus of $1,000,000 each ( I had to type that out just so it looked as gross as it sounded with all those zeros. Writing one million just doesn't have the same effect). So, now we have total public outrage as well as we should since "we; John Q public" is footing the bill for those 73 in addition to the others that didn't make the headline news. However since the story broke late Thursday, it has built up steam that brought President Obama into the media fire on Monday morning when his speech brought promises to do what could be done to NOT distribute those bonuses. However, since most people don't really read what is going on fully, they didn't read or listen to the full details that were broadcasted last Thursday stating that the bonuses had to be paid on Sunday, the 15th or they were liable for legal action. So, Monday's statement was really nothing more that of continuing to feed the frenzy that as I type this out is still being played out in the public by the media and our administration. ( Don't get me wrong, I like Obama and wouldn't want his job for anything!! That is a Toxic Media frenzy in the making.... ). However.... However.... One can not tell me, that OUR Government was NOT aware of the fact that when they bailed out AIG on both occasions that they didn't have a summary of expenses due for the next 48 months or more? That they didn't know of the obligations that AIG had committed to previously? Were they not aware of their operating statement? Had not taken the time to review the companies finances totally before writing them a very large check out of our checkbook? If that is the case, then shame on our Government!! I remember last year when things really went sideways. It started with the AIG bailout and allowing Lehman Brothers to collapse on September 16th. That was the beginning of what I call all the "Toxic Media" that along with our open check book, lack of due diligence that has fed the current economic crisis.
So, I say, ignore the "Toxic Media" and focus on the small positive news that is starting to eek out of the pack and eventually will beging to take over and lead the news and assist in building consumer confidence. The hardest part is going to be patient for that change to come about. But patience, ear plugs and the mute button on your remote control will pay off sooner.
Robin Weirich CBW
e-PropertyLinks
Just today alone we see the great news about Housing starts, which if you haven't read the article on MSN or CNBC, then I will quick you a quick snap shot. For first time in nearly a year something positive in on the news, Housing Starts & Building Permits were up! Does this mean end of the recession is nearing? Not likely, however it is a sign that the things are starting to improve. It's kind of like the first signs of life after a long hard cold winter where everything has been frozen for so long and one day you walk out to your car to go to work and you notice a tree starting to show just the slightest hint of a tiny bud trying to break through the ravaged old wood and show signs of life.
However that news along with the other positive article that came out about about American Economy is Finally Showing Signs of Recovery on CNBC. This article told of small improvements with consumers not swarming but inching their ways back towards shopping malls. They also noted in this article that while they do not feel the recession is over as of yet, the fear or shock factor of past months is dulling the consumer and like all war survivors they are picking themselves up and finally starting to dust off. OK, maybe I interjected some of my own interpretation of the article, but it isn't too far from the truth.
The public can only absorb so many stories of excess greed when they and myself alike, are watching pennies so we can put groceries on our tables and out there fighting for market share in business, that is if we have a job. Today's glaring headline of excess and greed that all the Media is focused on is "AIG" and the excess of the 73 current and former executives a bonus of $1,000,000 each ( I had to type that out just so it looked as gross as it sounded with all those zeros. Writing one million just doesn't have the same effect). So, now we have total public outrage as well as we should since "we; John Q public" is footing the bill for those 73 in addition to the others that didn't make the headline news. However since the story broke late Thursday, it has built up steam that brought President Obama into the media fire on Monday morning when his speech brought promises to do what could be done to NOT distribute those bonuses. However, since most people don't really read what is going on fully, they didn't read or listen to the full details that were broadcasted last Thursday stating that the bonuses had to be paid on Sunday, the 15th or they were liable for legal action. So, Monday's statement was really nothing more that of continuing to feed the frenzy that as I type this out is still being played out in the public by the media and our administration. ( Don't get me wrong, I like Obama and wouldn't want his job for anything!! That is a Toxic Media frenzy in the making.... ). However.... However.... One can not tell me, that OUR Government was NOT aware of the fact that when they bailed out AIG on both occasions that they didn't have a summary of expenses due for the next 48 months or more? That they didn't know of the obligations that AIG had committed to previously? Were they not aware of their operating statement? Had not taken the time to review the companies finances totally before writing them a very large check out of our checkbook? If that is the case, then shame on our Government!! I remember last year when things really went sideways. It started with the AIG bailout and allowing Lehman Brothers to collapse on September 16th. That was the beginning of what I call all the "Toxic Media" that along with our open check book, lack of due diligence that has fed the current economic crisis.
So, I say, ignore the "Toxic Media" and focus on the small positive news that is starting to eek out of the pack and eventually will beging to take over and lead the news and assist in building consumer confidence. The hardest part is going to be patient for that change to come about. But patience, ear plugs and the mute button on your remote control will pay off sooner.
Robin Weirich CBW
e-PropertyLinks
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