Recent polls show people already believe the US is in a recession. But it seems that very few people have changed their spending habits. It is my belief that the national media will continue to hurt local economies because they want the next big story.
National media pushed and pushed that the housing bubble was going to burst, but as the media continued to get it wrong in 2005, the media pushed even harder in 2006 to make that happen. Then about July 2006 things started to slow in the housing industry. We all knew it was going to slow but we didn’t know how much. If the national media wouldn’t have pushed so hard this could have been a much gentler landing.
What is the media pushing to on now and can we stop it?