Friday, August 21, 2009

How the media affects the economy.............

I see it every day so called economic experts on the T.V. Radio, Internet and Newspaper talking and predicting how the economy is either going upward or downward. Being just a normal guy who works everyday, plays on the weekend and starts over on Monday I wonder if these so called experts in the field of economics really know what they are talking about. I am a pretty positive person I try to look at the glass half full but understand the reality of things but listening to someone on CNN that claims to be a expert who most Americans have never heard of or really even care who they are.Are we headed in the right direction who knows unemployment is dropping as we speak, the housing market is stabilizing yet we are not out of the woods in the overall out look. I saw a lady on Yahoo this morning saying how 48% of Americans are underwater on their mortgages, well I don't know about you but the day I closed on my house and looked at what I owed at 6% interest rate I knew I was underwater for 30 years with a short snorkel line. What bothers me is the headline reads "48% of Americans will be underwater on Mortgages" then as you read the column acutually only 24% may be in that position. All in all I don't put much faith into these talking heads who are usually wrong on their predictions, I put as much faith in them as I do the local sports writer telling me my favorite team will win this weekend by 2 touchdowns. I truly believe we are heading out of this recession by the start of next year from what I am seeing, but that is on a local level in Columbia S.C. listening to these so called experts who group the nation into 3-5 states it is going to be years which I don't believe. Time will tell we are a strong nation and we will prevail time is really the only question.