MSM Financial Crisis Hype

[CanuckInUSA 0]

Listening to the main stream media you would think the USA is on the verge of collapse. But I am not buying it. There is so much wealth in the USA there is no way in hell the US economy has collapsed and that everyone needs to be bailed out. Look around you ... people are still spending thousands and thousands of dollars to skydive, people are still spending money on their entertainment, there is no shortage of people flying around the country meeting each other in bars for drinks, no shortage of people saying they will be off skiing and snowboarding at the resorts and look around you ... millions and millions of people will be attending professional and college sporting events this weekend alone with the average person spending $50 on their entertainment ticket (not counting how much money they will spend on transportation, food and drink).

So America before you tell the world how hard up you are and that you need government handouts (in reference to your media) please remember you are so much richer than everyone else in the world.

Try not to worry about the things you have no control over

[billvon 3,120]

>Listening to the Main stream media you would think the USA is on the verge
>of collapse. But I am not buying it.

?? I haven't seen anyone say "the US is on the verge of collapse." I have seen reports on unemployment numbers, large company bankruptcies, a massive drop in the stock market indexes and the beginnings of a recession. I am sure you would agree with me that such news should not be suppressed or "prettied up."

>people are still spending thousands and thousands of dollars to skydive, people
>are still spending money on their entertainment, there is no shortage of people
>flying around the country meeting each other in bars for drinks . . .

Of course. No matter how bad the economy gets, people will fly, drink and go to movies. They'll just do it in smaller numbers. Even now airlines are feeling the decline in ridership:

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Delta Air May Trim More Capacity as Demand Slows (Update3)

By Mary Jane Credeur

Nov. 21 (Bloomberg) -- Delta Air Lines Inc., the world's largest carrier, said it may need to cut more capacity next year after demand ``slowed over the course'' of this quarter.

Fourth-quarter capacity will decline by 4 percent from a year earlier, with more reductions likely in 2009 on both U.S. and international routes, Atlanta-based Delta said today in a regulatory filing that included an investor update.
=========

>no shortage of people saying they will be off skiing and snowboarding at the
>resorts . . .

Well, it's a bit early to predict this winter's ski season, given that it hasn't really started yet! But people are worried:

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Canada's ski industry prepares for a rough winter

By Jeffrey Jones, Reuters
CALGARY — Canada's ski industry is bracing for one of its toughest seasons as the world economy melts down before the snow flies, giving skiers pause before dropping major coin on a winter vacation.

The part of the business expected be hit hardest is the overseas skier and snowboarder market, as skittish European and Asian consumers face falling net worth and the recent shutdown of some charter airlines, officials said.

"This will likely be one of the most challenging seasons in decades because of the overall economic conditions," said Andy Wirth, chief marketing officer at Intrawest ULC, which runs such big resorts as Whistler Blackcomb in British Columbia, Blue Mountain in Ontario and Mont Tremblant in Quebec.

Wirth pointed to this week's U.S. data showing October consumer confidence dropping to its lowest level on record.
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>So America before you tell the world how hard up you are and that you
>need government handouts . . .

The US is not asking for handouts from any other governments AFAIK.

>please remember you are so much richer than everyone else in the world.

Yep, we're just becoming somewhat less rich.

[Andy9o8 2]

See? This is what comes from keeping out the undesirables from the wrong border country.

[kelpdiver 2]

even in the depression of the 30s, 3 in 4 had jobs.

meanwhile, credit cards are raising their rates to 20%, despite a 1% fed rate.

The Christmas sales season will tell the tale best.

[akarunway 1]

I haven't seen anyone say "The U.S. is on the verge of collapse" >http://www.drudgereport.com/flashrur.htm

I hold it true, whate'er befall;
I feel it, when I sorrow most;
'Tis better to have loved and lost
Than never to have loved at all.