It’s taken me a bit to get to it but I’m sure you see it coming if you’ve seen this headline the other day:
Consumer spending, after adjusting for inflation, was flat for the second straight month in January, raising new concerns about a possible recession. Federal Reserve Chairman Ben Bernanke has signaled a further rate cut to shore up the economy.
Once again this whole recession thing is nine yards of crap. The one thing that always makes things worse is acting on fear and fear filled messages as if they were gospel when all they really are is halfway educated guesses.
Lets face it, when Greenspan or anybody else makes some observation or other about the state of the economy or where it’s headed. One word from these people and all of a sudden folks are scrapping vacation deals and pulling back all of their spending because they’re afraid of what some know-it-all said about the economy.
I am not a hamster nor does it take much more brains than a hamster to realize that too many people acting on this fear mongering will cause the problem they’re predicting