Technology, Media, Fear, “Depression”
November 17, 2011 5 Comments
At the end of this article please do not think I am bashing everything 21st century or anything more advanced than a Post-it Note, because I am not. Our greatest successes ironically are the primary catalyst to our downfall.
Ever since society got wind of the electrical circuit and microchip, advances in technology have been phenomenal. From the first black and white television to the most recent iPhone that will do everything but wipe you’re ass for you. All these advances are great for the individual but horrible for society as a whole.
This has taken from the foundation of what has helped us evolve, THINKING.
This is a whole different subject, that I could rant about but my primary focus is on this economy.
Technology has created this bubble that burst in the 2008. Economist will say that it was the mortgages that shouldn’t of been given to people who couldn’t afford to pay their car insurance every month but the bank thought they could pay a $1,500 mortgage.
This is one of the many reasons but what about the recovery, how has the recovery been affected by technology and media ?
Well let’s start off with these “experts”… experts are always coming out with these predictions on what the economy is going to do… How many times have you seen an article with the title “Experts predict… Experts think … Experts say… “ Most of the time it is followed with something negative.. something to drive fear into the market to move in one direction or the other.
These media titles spread like a virus in today’s day and age- lets go back to my initial statement “Our greatest successes ironically are the primary catalyst to our downfall” We boast about how much faster information can travel and how quickly we can do things but fail to step back and view the implications this has had on our economy.
This is what contributes to negativity spreading – our economy is media driven.
That’s the fact of life today, we are a bunch of drones that just follow the leaders/”experts”. Why don’t they just keep their mouths shut and stop predicting the economy and let it fail or succeed without the influence of their opinions. Let us humans go back to the basic function of THINKING. Obviously this is NEVER going to happen but it’s just something that bothers me as an investor.
One day you do your research and you say “yeah this is a good stock” and all it takes is one idiot to say “ I predict ….” And there goes your hard work and money. A great example of this would be the most recent swings in the European market– one day they say something to boost the economy the next they predict something else to cause the DOW to drop 300 points… This volatile market isn’t going to stabilize any time soon with today’s media being so fast and negative.
This is my theory on why this “depression” is greater than the Great Depression. Granted we are not feeling the same effects as the jobless rate that was enormous back in the Great Depression but I don’t see an end in sight with technology and media the way it is today.
Feel free to comment or rebuttal with any relative debate or agreement.