OK, I know we're all distracted by the strobe light of the primaries, but let’s take note of the fact that the recession we are all going to be living thorough, perhaps for years, actually started now and not under the next president who will have to deal with it. Something tells me this fact will be forgotten just months (or sooner) after the next president is sworn in.And as I predicted, the latest wingnut talking point is blaming the current president for all our economic woes even though he has only been in office a few weeks. And it really wasn’t hard to see this coming, even a year away.
In that same post, I said this which is as applicable today as it was then:
Speaking of economic downturn, I’m really tired of the pundit class on my TV (and elsewhere) telling me that I am most concerned about the stock market when it comes to economic issues. They point to the fact that many, many Americans now have investments in the market through their 401k plans. And while that's true, 401ks for most people are neither all that large (in terms of dollars) nor a day-to-day money concern. These well-paid-for-nothing pundits and their social and professional cohorts probably DO have lots invested in the market, so it is a concern for them. But the rest of us don’t really have a big stake in the market, at least not one we need to worry about today.I really don’t get why the stock market gets so much media attention and joblessness gets an occasional mention whenever the new unemployment rate comes out (like it did today). If I’m unemployed, my 401k is the least of my worries. Not that this is a new phenomenon, it just seem particularly misguided now.
Anyway, I don’t live for the stock market and most other people don’t either. But the bobble heads on the TV don’t get that. They don’t have to worry about the next house payment or have to make a decision between filling the tank and stocking the