Spending Less because of the Economy

[TromboneAl]

Every night on the news they'll have a story about how people are spending less this Christmas. They'll always interview some 20-something mall shopper, who says something like this:

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?

 

[Retire Soon]

Maybe the 20-something mall shopper is only saying what he thinks the interviewer wants to hear.

 

[FinanceDude]

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Translation: Mom and Dad are pissed at me because I dropped out of college to live with my boyfriend, so they quit giving me money.............

 

[W2R]

Well, I would imagine that 50% of people are spending more, and 50% are spending less, all else being equal.

The snowstorm is probably keeping some people inside in the northeast, so that alone would probably mean most people are spending less.

I agree - - these live news stories from a local mall are pretty pointless!

 

[youbet]

these live news stories from a local mall are pretty pointless!

With eleven zillion channels competing for viewers, they gotta scratch up something to put on the air.......

 

[Caroline]

With eleven zillion channels competing for viewers, they gotta scratch up something to put on the air.......

This brings up something I've wondered about lately -- what do news people themselves think about all the blather on TV these days? Do they just LOVE those interviews at the mall, or are they secretly hating life?

I once considered journalism and talked to some professors, students, and journalists who really wanted to change the world, be the next Woodward and Bernstein, etc.

Has anyone out there every been a journalist and what do folks on the inside think of the current state of the industry?

 

[dex]

Don't they run that story every year?
Have they ever ran a story - the economy is doing great; are you spending more?

 

[Nords]

Now, unless that person expects to lose his/her job, that makes no sense, right?

These are the same people who, in a few decades, will be returning to work because [-]they ran out of money[/-] retirement leaves them bored and unfulfilled.

 

[W2R]

This brings up something I've wondered about lately -- what do news people themselves think about all the blather on TV these days? Do they just LOVE those interviews at the mall, or are they secretly hating life?

I once considered journalism and talked to some professors, students, and journalists who really wanted to change the world, be the next Woodward and Bernstein, etc.

Has anyone out there every been a journalist and what do folks on the inside think of the current state of the industry?

I have never been a journalist, nor am I on the inside.

I don't think there's such a thing as a T.V. journalist in my area. They cover the stories that people call in and tell them about, as long as covering them doesn't offend the wrong people. They don't seem to go out looking for stories independantly, at all.

I find the decline of genuine journalism in our lifetimes to be shocking.

 

[UncleHoney]

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?

Maybe it's just a little guilt feeling coming out.

People living paycheck-to-paycheck may be concerned about bumps in the road ahead. For many, one lost or delayed paycheck would be the end of life on earth as they know it and everything would come down around their ears in a few days.

 

[OAG]

Gee I was exchanging some jeans at Sears the other day (bad day in China, they forgot to put one of the belt loops on them), and some young lady was trying to get to me at the mall; I had a devil of a time getting away from her. Was that what she was trying to do? I am older than dirt and had other thoughts!

 

[FinanceDude]

Maybe it's just a little guilt feeling coming out.

People living paycheck-to-paycheck may be concerned about bumps in the road ahead. For many, one lost or delayed paycheck would be the end of life on earth as they know it and everything would come down around their ears in a few days.

What's that old saying? "50% of all Americans are 3 paychecks away from homelessness?

 

[Babeebloos]

I have never been a journalist, nor am I on the inside.

I don't think there's such a thing as a T.V. journalist in my area. They cover the stories that people call in and tell them about, as long as covering them doesn't offend the wrong people. They don't seem to go out looking for stories independantly, at all.

I find the decline of genuine journalism in our lifetimes to be shocking.

If you turn on the news you see only what THEY want you to see or know about, the ticker type thing...that EVERY news station gets...its easy for the local stations to just read whats written for them to say...its all about the money, they don't have to pay for a reporter to go out and investigate a story of REAL interest! Foreign countries know more about what's really going on in the world today...even more about what WE'RE doing!

 

[lazygood4nothinbum]

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?

reflects the credit culture and hesitation to buy today what they might not have the dollars to pay tomorrow.

 

[UncleHoney]

What's that old saying? "50% of all Americans are 3 paychecks away from homelessness?

And probably only 9 meals away from violence.

 

[dex]

reflects the credit culture and hesitation to buy today what they might not have the dollars to pay tomorrow.

Might be an urban myth.
The truth about credit card debt - MSN Money

 

[barbarus]

Are the j*bs (or income streams for those retired) for readers of this board so secure then?

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.

For some, the prospect is quite distant, for others, imminent.

Merry (Christmas, Chanukah, Kwanzaa, Saturnalia, Jule and whatever) to all and to all a good night.

 

[REWahoo]

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.

Or get run over by a truck tomorrow...

As the guy told the cop who asked why he took a swing at a psychic after she laughed at him, "I'm just trying to strike a happy medium."

 

[barbarus]

Or get run over by a truck tomorrow...

Got the truck thing covered too Wahoo.
Every once in a while I practice shoveling coal.

 

[W2R]

Are the j*bs (or income streams for those retired) for readers of this board so secure then?

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.

My job really is that secure - - vested federal employee for years, top evaluations, recent promotion, tons of work, and 23 months short of retirement. I try not to take things for granted, and I know anything can happen, but it would take a real pessimist to worry about losing my job, given these circumstances.

Even so, I still worry (just not about being canned). I worry about hurricanes and catastrophic flooding, I worry about my health, I worry about whether or not I'll ever be able to sell my house so that I can move for ER, I worry about the possibility (that we all face) of undeserved lawsuits costing me millions and years, and a myriad of similar remotely possible things. But I don't worry about losing my job before then.

As for falling into dire economic circumstance, I lived on my own in the 1960's. I know how to survive dire economic circumstances. It's not FUN, but I know how to survive. I'm over-engineering my strategies to avoid ever falling into these circumstances again in my old age.

 

[Rustic23]

I think the news, in general, is interested in bad news. I also think a section of the press has a political agenda. Well maybe all the press. Some one way and some the other. It certainly has occurred to me that it is to one sides advantage to make people think things are in the dumps. Would we be hearing more about the 4.7% unemployment rate? Is the economy really in the tank? Are we really spending less?

I don't know the answers to these questions, I do know I don't really trust the main line press. Fox, CNN, ABC, CBS or NBC. So therefore I think we should 'trust but verify'.

 

[dex]

Are the j*bs (or income streams for those retired) for readers of this board so secure then?

Prudence yet again raises her ugly head and says, while it's unhealthy to dwell on the idea, at least remain vaguely open to the fact that you too may fall into dire economic circumstance.

For some, the prospect is quite distant, for others, imminent.

Merry (Christmas, Chanukah, Kwanzaa, Saturnalia, Jule and whatever) to all and to all a good night.

Read this book and have a Happy New Year.
Amazon.com: The Culture of Fear: Why Americans Are Afraid of the Wrong Things: Books: Barry Glassner

After reading the book, the pattern became clear of how the media spins its stories to make them deliberately misleading in order to sell fear and keep viewers and readers plugged in. I believe this educational experience has made me a more savvy and skeptical consumer of the news.While Glassner's primary target in "The Culture of Fear" is the media, other groups are also shamed along the way (and they aren't all conservatives, either!)

 

[jazz4cash]

Every night on the news they'll have a story about how people are spending less this Christmas. They'll always interview some 20-something mall shopper, who says something like this:

"Yes, I'm cutting back this year, because I've heard that the economy isn't doing that well."

Now, unless that person expects to lose his/her job, that makes no sense, right?

Maybe they saw a TV interview of a mall shopper that's decided to cut back this year because of 'the economy'. Maybe they DO expect to be laid off. Maybe they think it unwise to run up the credit card like they did last year.

 

[jazz4cash]

Merry (Christmas, Chanukah, Kwanzaa, Saturnalia, Jule and whatever) to all and to all a good night.

[-]Festivus![/-] Oh never mind you did say whatever.

 

[barbarus]

Thanks Dex.
Looking at the reviews of the book, it doesn't seem to deal with any of the true problems we are facing. Just debunks the bovine feces the media dwells on to sell themselves. For instance, airline accidents.....I fly a powered parachute so a commercial jet airplane trip seems kinda bland.

Wonder if he deals with real issues like the economy?