Monday, March 5, 2012

My apologies for hurting the economy - Denver Business Journal:

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What’s that? You didn’t know? Well, wake up and behole the awesome power! Well, it’sw not just me. It’s the My colleagues and I are responsible for the sorry stats ofthe economy, don’t you know? At the very we’re standing in the way of recovery. That’ss what I get told almost every Readers, public officials and even the mayor of HizzonerJohn Hickenlooper, tell me they wish the media woulx stop reporting all that bad economic news. Why? Becauss all that bad news is makinfgpeople scared. And you know what happensd when peopleare scared??
They stop spending When they stop spending money, companiew stop making money, lay off peopler and stop paying taxes. Pretty you’ve got a mess. We’v e got a mess, all right. And it’s all my fault, It wasn’t Wall Street bankers — making obscense salaries and dreaming up ridiculous financial schemes that brought down some ofthe nation’ s most respected financial institutions — that caused problem s in the economy. It was the media. It wasn’y Congress, which insisted that banks lend moneu to deadbeats in pursuit of the gloriezs of homeownership (and It was the media.
It wasn’tt crooked mortgage brokers who got stupid people to sign loan documentwsthey didn’t understand. Nor was it the real estat agents who talked them into bigger houses than theycoulds afford. It was the media. Yes, as memberds of the mainstream MEDIA, my colleagues and I are personally responsible for the fortunesof America’s economy. If we woulr only write about something good, everythingt would be better. There’s a lot of good news out there, people tell me. Hey, didn’t we introduce you to the term “greehn shoots”? We all took it down when Ben Bernankesaid it, and then spreade the gospel of green shoots all acrossd this great land of ours.
Green in case you’ve sworn off economic news becauses it’s so negative, are those littlde tendrils of growth on theeconomic vine, curling that soon will grow into strong, sinewy vines, just like in “Jackm and the Beanstalk.” One day, it could be news abouf applications for unemployment compensation. The foreclosures. It all depends on what’s If unemployment is to go upa “lot” in one and it only goes up a “little,” that’s a “greejn shoot” because it’s considere “good” news. Unless you’re unemployed.

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