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Reality Versus the Media March 6, 2009

Posted by shaferfinancial in Finance.
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There seems to be a remarkable divergence between the reality of our lives and what the media presents.  Now I am not saying that some folks aren’t having major issues with job losses or real estate and/or stock devaluations.  And I know folks that are having to deal with all these issues.  The truth is that the vast majority of us are still going to work, still making our mortgage payments, still taking time with our families, still doing what we normally do.  If our world is falling apart it is doing it in slow motion.

Take the banks for example, in the 1980’s almost 800 S & Ls and 1600 banks failed.  Currently, we are around 41 bank failures since the beginning of 2008.  Now admittedly some of the failures were very large, but what does that tell us about the real depth of the problem vis-a-vis the 1980s?

Or the bear stock market.  This is the 8th bear stock market that has pushed the market down 40% or more in the last 100 years.  Not pleasant, but hardly unheard of!

These are just two of many examples that could be put forward to indicate that although our economy does have issues, they are not substantially more intense than what we weathered before!

Have a great weekend!

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