I have just GOT to quit visiting economic blogs. I know the rest of you probably wish I would too.
See, I first started focusing on the housing bubble, cause...well, I recognize a bubble when I see one. I have a Doctorate in Fadology.
But I admittedly don't know a whole lot about financial markets, or credit markets or any of the rest of that, because....well, see the title of my blog.
Visiting the economic blogs is scary and depressing. I was trying to work my way through a huge list of them to bookmark just the relevant, but it is such a steady drumbeat of negativity that I could only do about 10 per day.
So finally, I work my way up to the D's, eliminating any site that is too jargonistic, or too conspiracy minded, and all the stock market blogs (if I ever invest in the stock market, I'll be using a dartboard technique.)
Oh, here's one. The Daily Dose of Optimism. That sounds promising. Look -- he's saying that despite the bad news, the stock market is only down 6.5% for the year. Wait....
This doesn't look right.
There's no date, but the log entries stop in August of 2007. (Coincidentally, my first down month in 5 years.) It's funny, because there is no hint where he went. No followup whatsoever.
Wonder if he got hit by a bus. Or fell into a depression. Or became a Sith.
In a way, there is almost too much agreement how bad things are, or are likely to get. Makes me doubt it, because it's just too easy.
But then I remind myself that almost everyone I talk to on an everyday basis is blissfully unaware. It doesn't impact on their day to day lives, or so they think. They haven't even begun to consider the idea, for instance, that their house could actually be worth less.
How they can be unaware is a mystery to me -- but I suppose if they never read the paper...
And if I really need an antidote to all the scary news, I need but watch Fox and or CNBC or CNN, and they'll lull me right back into complacency...
5 days ago