Posted by Buzzman72 on March 11, 2009 at 09:03:43 from (4.253.116.114):
In Reply to: Re: OT/Recessions? posted by GeneMO on March 10, 2009 at 17:37:04:
You misunderstand my position. Since at least 2003, I have been preaching the "house of cards" theory that Traditional Farmer below mentions. Too much of our economy was/is built upon credit...and when credit tightens past a certain point, the house ofcards begins to tumble.
But that occurs whether you turn off your TV or not. But because I watched my TV for awhile, I got out of the stock market with my IRA/401(k) money in 2005. While I might've missed the record high market of October or November 2007, I also missed the devastating losses others have taken since that time. When I got out, the DJIA was in the 10,000 range...not the 14,000 it hit in late 2007, but a lot better than the 6,000 it's settled on lately.
So it's not the fact of watching your TV that hurts you...it's knowing what information is significant, and what information is fluff. If you're watching and listening to folks like Dave Ramsey, and following their advice, your TV and radio are helping you, not hurting you.
And when you get laid off because you didn't see the collapse of this economic house of cards coming, telling your banker you turned off your TV won't keep your mortgage out of foreclosure. It just tells him that you were an ostrich, with your head buried in the sand when the danger signs approached.
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