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Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 9:40:56 AM   
FirmhandKY


Posts: 8948
Joined: 9/21/2004
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Story:

10. Capitalism is dead or dying.

9. Gas at $4-a-gallon, blame the oil companies.

8. Fannie’s failure

7. Barack Obama sends stocks soaring, but not sinking.

6. Alternative energy: All gain, no pain

5. The economy has a fever and the only prescription is more bailouts.

4. Attack of the Killer Tomatoes

3. Oil prices will skyrocket to $200 a barrel, gas to $15.

2. Welcome to 1929: Great Depression II

1. America needs a new, New Deal.

Interesting stuff.

Firm

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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 10:06:41 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		Really interesting.

We have a conservative media outlet that labels itself a "research center" so it can attack any legitimate news source as being part of a liberal conspiracy in order to advance their own ideology.

(in reply to FirmhandKY)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 12:21:36 PM   
kdsub


Posts: 12180
Joined: 8/16/2007
Status: offline 		#10  unregulated capitalism needs to die

#9   Gas $4 was the suppliers fault…greedy bastards

#8   Fannie’s…see 10 above

#7   Obama….did not and will not make a difference in the market

#6   Alternate energy…lots of pain but necessary

#5   NO bailouts …let them go under…another better run company will pick up the pieces…let the bastards reap their rewards for poor management.

#4   Attack the killer peppers.

#3   Yep…they will screw us again…soon

#2   My money and gold is in a tin can buried in my backyard.

#1   America needs me to show them the way

ps could not read your link...crashed my browser

Butch

< Message edited by kdsub -- 1/2/2009 12:24:48 PM >

(in reply to FirmhandKY)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 12:50:17 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		It's funny when people start saying that gas will go to $6 a gallon.
It hit $3.00 and everything slowed down. It hit $4.00 and everything stopped!!!
Commodity prices will go to ,....."what the market will bare."
When gas prices hit $3.00 a gallon everyone started cutting back on driving.
At $4.00 this place was a ghost town at 8pm!
Demand just fell off a cliff.
As for the stock market, prices were *pounded into the ground* in November.
No-one wanted to buy stocks then.
That's the time to buy, when everyone else is selling.
All "pendullums" (commodities) always swing too far in both directions up and down.
It's very obvious now that the speculators are the reason that gas hit $4.00 per gallon.

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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 1:15:36 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline 		My problem with the article is predicting the "Depression" to hit in 2008.
Most people realize it is coming in 2009 or 2010.


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(in reply to FirmhandKY)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 1:25:40 PM   
SilverMark


Posts: 3457
Joined: 5/9/2007
Status: offline 		Hmmmm....so easy to criticize the media...and A newly elected yet to be inaugurated President....I'd say these folks have an ax to grind. Who knows what the future holds and who really knows that the actions already taken haven't helped in most of the areas they are reporting on?....Wonder what it is they predicted prior to the close of 2008? 
A conservative publication tooting its own agenda...SO?...lol...kind of like posting from Move-On and saying it is factual without bias....the truth remains in the middle.



(in reply to popeye1250)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 2:08:00 PM   
Lorr47


Posts: 862
Joined: 3/13/2007
Status: offline
quote:

ORIGINAL: popeye1250

It's funny when people start saying that gas will go to $6 a gallon.
It hit $3.00 and everything slowed down. It hit $4.00 and everything stopped!!!
Commodity prices will go to ,....."what the market will bare."
When gas prices hit $3.00 a gallon everyone started cutting back on driving.
At $4.00 this place was a ghost town at 8pm!
Demand just fell off a cliff.
As for the stock market, prices were *pounded into the ground* in November.
No-one wanted to buy stocks then.
That's the time to buy, when everyone else is selling.
All "pendullums" (commodities) always swing too far in both directions up and down.
It's very obvious now that the speculators are the reason that gas hit $4.00 per gallon.


Have you been keeping track of those favoring a federal tax to keep the price of gas at or near $4.00 per gallon.  The American Trucking Association has backed the idea for some time for road repairs.  The Washington Post has jumped on the band wagon for "green" reasons; keeping demand down.  I felt that I was a cab company during the last $4.00 per gallon price.  Everyone wanted me to drive them to work.  I usually am in favor of action orientated toward "green" results but that $4.00 gas beat me to death from the cost and the lack of sleep from driving and then working myself.  I think that I have parted company with those who want to tax so gas will stay at $4.00 per gallon.  They encouraged everyone to use public transit during the last price gouging.  Then, when a good number used the public transportation the government raised the fares substantially and  reduced coverage claiming the system could not support the usage.  The politicians want solutions which crucify us.  As long as they get vehicles paid for by the state and a gas allowance, we can expect them to continue to be screw us.  Our dear politicians do not bear the cost of their nonsense.

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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 2:41:54 PM   
SilverMark


Posts: 3457
Joined: 5/9/2007
Status: offline 		Damn Popeye....with that new photo...I read your post and had no idea it was yours!....

(in reply to Lorr47)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 3:09:52 PM   
kdsub


Posts: 12180
Joined: 8/16/2007
Status: offline
quote:

ORIGINAL: SilverMark

Damn Popeye....with that new photo...I read your post and had no idea it was yours!....


Now that he's put on a little age...he needs the sophisticated ... I've got money look...to pick up the girls.

Butch

(in reply to SilverMark)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 4:22:32 PM   
TNstepsout


Posts: 1558
Joined: 8/3/2005
Status: offline 		I guess it's the writer's opinion as to whether something is "myth" or not. I'm not convinced that all of those stories mentioned ARE mythical. It seems to me there IS a connection between record profits at Exxon and record prices at the pump. I'm also not 100% convinced that we have avoided a Depression, and if we have, it's due to all those pesky bailouts that everyone hates so much and which seem to be the subject of another "myth". Would the writer be happier if we were all living in Hoovervilles right now? 

(in reply to kdsub)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 4:38:23 PM   
camille65


Posts: 5746
Joined: 7/11/2007
From: Austin Texas
Status: offline
quote:

ORIGINAL: kdsub

quote:

ORIGINAL: SilverMark

Damn Popeye....with that new photo...I read your post and had no idea it was yours!....


Now that he's put on a little age...he needs the sophisticated ... I've got money look...to pick up the girls.

Butch



*lol*

Its a great pic popeye!


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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 6:10:00 PM   
bluesgun


Posts: 33
Joined: 7/8/2005
Status: offline 		this one made me laugh, thanx :)
Blues

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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 6:14:56 PM   
LookieNoNookie


Posts: 12216
Joined: 8/9/2008
Status: offline
quote:

ORIGINAL: FirmhandKY


Story:

10. Capitalism is dead or dying.

9. Gas at $4-a-gallon, blame the oil companies.

8. Fannie’s failure

7. Barack Obama sends stocks soaring, but not sinking.

6. Alternative energy: All gain, no pain

5. The economy has a fever and the only prescription is more bailouts.

4. Attack of the Killer Tomatoes

3. Oil prices will skyrocket to $200 a barrel, gas to $15.

2. Welcome to 1929: Great Depression II

1. America needs a new, New Deal.

Interesting stuff.

Firm


(Huh?)

(in reply to FirmhandKY)
Profile   Post #: 13
RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 6:18:22 PM   
corysub


Posts: 1492
Joined: 1/1/2004
Status: offline 		Why do people keep talking about a "depression"?  93% plus of Americans are still working, the fed has pumped hundreds of billions of dollars into the system, just the opposite to what happened in the 1930's that deepened a bad recession into the depression.  The banks are flooded with applications by
people to re-finance mortgages with rates now under 5%, the first step in making the consumer more liquid and secure in this environment.  The great surprise to me as I go through a re-fi is that my house is was appraised at 10% "more"than what we paid for it three years ago!  Unless you live in Cali, Nevada, Florida or the dying state of Michigan, I've got to think that most people who have been in their homes for a number of years are still way ahead
of the game in home value even if the market might be softer now than a year ago.   In the interim, people are still paying big rents in the eastern cities and low mortgage rates could easily encourage a major reversal in real estate sales.  I'm optimistic about 2009 with one major caveat....ie, the Obama stimulus package emphasis should be on programs to benefit the near term such as tax cuts...rather than pork laden infrastructure projects that did not work in the 1930's, and will go well above budget.  I don't think you can trust the government to control any spending witness the hundreds of millions spent on a "visitor center" at the Capital. 

(in reply to MzMia)
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RE: Media's Top 10 Worst Economic Myths of 2008 - 1/2/2009 10:16:16 PM   
OneMoreWaste


Posts: 910
Joined: 8/24/2008
Status: offline 		Personally, I thought the worst was:
"The entire financial world is coming to an end because of families buying houses that they couldn't afford"


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(in reply to LookieNoNookie)
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