Thursday, March 06, 2008

Interview on The Economy

Got an interview request from U.S. News and World Report. The ping was that they needed some juicy quotes about how the recession is affecting us and our clients.

I said I can't talk about that. See http://smallbizthoughts.blogspot.com/2008/02/were-opting-out-of-recession.html. We're not having a recession!

I said I could discuss recession-proofing strategies.

The reporter was interested.

So yesterday we did a half hour interview.

But try as I may, he wanted to find an angle of pain.

If he has already decided what the "story" is, he won't use my quotes. :-) But maybe he'll use me for a little balance.

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I don't understand why the media want to talk us all into a recession. This morning I turned on CNBC. What's the story? Target same-store sales are up. Walmart same-store sales are way up!!! Walmart's dividend is 95 cents a share. That's huge.

And how is this presented? "Well, maybe Wal-mart isn't an indicator of how this sector is going."

Whuh?

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I hereby declare that the recession is over.

Avoid putting your money in home-building and mortgage stocks.

Other than that, just get back to doing what you do for a living.

Do your job extremely well.

And turn off the news.

8 comments:

  1. Anonymous7:42 AM

    Hear hear!

    ReplyDelete
  2. Are saying a down quarter and a couple slow sectors doesn't mean I should liquidate all stocks and buy gold? Phew!

    ReplyDelete
  3. Well said.

    "What you focus on, gets magnified."

    If you focus on recession, you get recession. If you focus on growth, you get growth.

    Simply highlights that mass media agendas need to be ruthlessly ignored.

    ReplyDelete
  4. Anonymous1:39 PM

    "The National Bureau of Economic Research declares what most Americans already knew: the downturn has been going on for some time."

    http://money.cnn.com/2008/12/01/news/economy/recession/index.htm

    ReplyDelete
  5. Ugh. Okay.

    So, Anon: I hope you realize you just posted your comment on a posting from March (9 months ago).

    The slowdown has been going on for some time. A slowdown is not a recession. A recession is two or more quarters of negative growth.

    We're in the 12th month of a slowdown and the second quarter of a recession. We have officially been in a recession for two days!

    ReplyDelete
  6. Anonymous1:48 PM

    Actually, the article says that we've been in a recession since December of 2007. It doesn't call it a 'slowdown', it calls it a 'recession'.

    ReplyDelete
  7. Well, that would be incorrect. I'm not responsible for what other people print, even if they have billion dollar corporations behind them.

    I don't make the rules or definitions.
    :-)

    ReplyDelete
  8. Anonymous2:12 PM

    Don't worry:

    Anything that went wrong after Bush's inauguration: Clinton's fault

    Anything that goes wrong in the end days of the Bush administration: Obama's fault

    ReplyDelete

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