Monday, December 8, 2008

Heh, a thought for the week:

"If anyone should fear a Depression, it should be journalists, who are already the equivalent of 1980s steelworkers. But instead, they seem positively giddy with anticipation at the prospect of a return to ’30s-style hardship–without, of course, the real hardship of the 1930s. . . . Oh the thrill of imagining a Great Depression. It’s an opportunity for Great Design and Really Cool Government." --Virginia Postrel 

This was from a comment to an article at one of my favorite blogs, Maggie's Farm.  You'll find good Yankee sense there.

Stop by and check them out if you get the chance.

Virginia makes a good point.  Big Media really needs to be careful how they sell the economic downturn.  News companies are already taking it in the shorts--just look at the Tribune Company.

They sure are trying their hardest to turn this into a full-fledged depression, though, if the headlines are any indication.  The thing is, though, this doesn't really remind me of what I was told about the Great Depression.

First of all, its in color.  

Second, and less flip, while jobless numbers are up, it really doesn't seem that crappy--you know,
 unless you work for a newspaper who failed to adapt to the internet, Wall Street wizards making shady back-room deals, kow-tow to parasitic labor organizations (GM pays an average of $32/hr to its UAW employees) intent on killing their host, or make a habit of making loans to people who are unlikely to pay you back.

Aparently, and this may come as a shock, if you have a bad business model or tend towards making poor and unethical decisions, or you allow your pensions, medical plans, and ridiculous salaries for assembly line workers to exceed your sales, your business will fail.

1 comment:

Old Man said...

John Steinbeck's novel "The Grapes Of Wrath" is worth the time to read if one wants a good example of how hard a real depression is. It used to be required reading in public schools, so you may have to look around at an antique book store to find a copy /sarcasm off. In the late 1930's my maternal grandparents brought there family north from southern Missouri where on a mule drawn wagon to escape the devastation of the depression and the dust bowl (wasn't even caused by man made global warming) that hit the Midwest during that time. Talk to someone who lived during the depression and you will realize that this financial hiccup is nothing than a cake walk.