Posted by Scott on August 21, 2008, 7:21 am, in reply to "Too Much Doom and Gloom?"
159.134.204.130
I wrote a short article in the newsletter in January 2007 about Nancy Reagan's dress and the speed that sentiments shift. It's all overblown, unless you're the one out of a job.
One definition I've heard is that a recession is when your neighbour loses his job; depression is when you lose yours.
Anyway, here's that article again, apropos your comments about doom and gloom. It's a bit dated, but the sentiments are still valid.
Nancy Reagan's Dress
The big question is whether we get a much needed cooling down or hard fall. When I gaze into my crystal ball, I see Nancy Reagan’s ball gowns.
In the early days of the Reagan administration, the media trumpeted the glamorous Reagan White House. Post peanut farmer, glitz was the talk of the town.
And then one week, as if someone had flipped a switch, the news was all about the bad economy. It was literally overnight and the public mood shifted with the speed of Katrina hitting New Orleans.
If you don’t remember those vanished times, then think back to March 2001. In early March, people were still hocking their kids’ socks to buy internet phantasms. And by April, it was all over.
I’m not saying that Ireland faces a bust. What I am saying is that these economic swings can happen with amazing speed. One day you’re flush with web stocks. And the next, you’re flushed.
Scott
--Previous Message--
: Saw this in the Times today:
:
:
: http://www.irishtimes.com/newspaper/frontpage/2008/0821/1219243767680.html
:
: "Soars to 5.1%"
:
: Soars? Unemployment is never good but saying
: that "soars" to 5.1% is a little
: bit much when you think about averages and
: such across the world in many other
: countries. Maybe not what Ireland is used to
: in the last 10 years, or so, but still it
: makes me wonder.
:
: Maybe say, "crept up" instead?
:
: I think "soars" is a bit of an
: exaggeration?
:
: It sounds like the Times is trying to
: compete with the Indy?
:
: Global economy is hurting, for sure, but
: what will the press say and write if, and
: when, things pick up in a year or so? I'm
: sure they won't look back on this period and
: that they will report on whatever current
: negative issues are the talk of the day.
:
: It's not just the Times or Indy I'm picking
: on.
:
: It seems to be "if it bleeds, it
: leads" all over the universe.
:
: Makes one not want to ever pay attention to
: the news and listen to what the "real
: folk" are saying.
:
: Very jaded on the whole news thing, as you
: might have noticed!
:
: Cheers,
: Mike
:
:
:
:
: Mike
:
:
:
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