dpd1 - 1:00 am on May 5, 2009 (gmt 0)
The media thing is the only idea I can think of too. Whether it's right or not, I have no idea. But I'm convinced that the media plays a huge role in the economy to begin with, so maybe I'm not the right person to ask. In my mind, it's all about morale. People are given the vibe night after night that the world is going to end... They don't spend money. All the stimulus in the world isn't going to change that. You either have to wait until people get tired of being afraid, or somebody tells them; it's OK, don't be afraid. Either way, most people won't start spending money until they're reassured. Look at the auto industry... In the US there's unprecedented deals going on for autos right now... Ridiculous price cuts, insane cash back amounts... Offers to let you keep your car for months without paying if you lose your job... Things that have never happened in the history of the auto industry. And people still don't buy. At some-point it just gets silly. But when you have the gloom and doom anchor man coming on every night and telling you that you should basically just slit your wrists, because the world is so screwed up... People can't think rationally. I refuse to watch the news and I tell people I know... 'Hey, want to feel better bout your life... Don't watch the news'. You'll be amazed how much better your attitude gets. I watched for just 10 minutes the other night, and I was already convinced there was no hope.