ziggy29
Moderator Emeritus
Part of the problem is that there are always people like this. In ALL economies. People who made dumb choices and now lie in the bed they made. People who had bad luck and were downsized and/or restructured out of a job through no real fault of their own. People who are injured and were not adequately insured. It happens in the best of times just as it happens in the worst of times.
But they are actively sought out for sensationalized news stories when the economy starts to falter, making people think this is proof that We're Doomed [tm], which leads to the self-fulfilling prophecy of recession.
Yes, there may be a few *more* people in this situation now, but how many *more* will there continue to be as long as stories like this continue to scare the hell out of people and businesses?
Can you tell I have a little bit of contempt for the financial media?
But they are actively sought out for sensationalized news stories when the economy starts to falter, making people think this is proof that We're Doomed [tm], which leads to the self-fulfilling prophecy of recession.
Yes, there may be a few *more* people in this situation now, but how many *more* will there continue to be as long as stories like this continue to scare the hell out of people and businesses?
Can you tell I have a little bit of contempt for the financial media?