Comments on: Media-Types Struggle to Get on the Same Economic Page http://toughmoneylove.com/2008/12/01/media-types-struggle-to-get-on-the-same-economic-page/ The Hard Truth about Money and Personal Finance Tue, 31 Jan 2012 13:37:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mr. ToughMoneyLove http://toughmoneylove.com/2008/12/01/media-types-struggle-to-get-on-the-same-economic-page/comment-page-1/#comment-1452 Mr. ToughMoneyLove Mon, 01 Dec 2008 19:53:07 +0000 http://toughmoneylove.com/?p=228#comment-1452 @ beef The reason Valentine can say "don't hoard cash" is that he is likely in a very good personal financial situation compared to most of us. @ Mike I agree with your assessment. It seems we need to have a series of "town meetings" around the country hosted by centrist economists who are also good communicators. They can explain to the masses what is fact and what is hype. I think I will actually write something about this idea, now that I've thought about it. Let's put all of those government economic policy advisors on a road show! @ beef The reason Valentine can say “don’t hoard cash” is that he is likely in a very good personal financial situation compared to most of us.

@ Mike I agree with your assessment. It seems we need to have a series of “town meetings” around the country hosted by centrist economists who are also good communicators. They can explain to the masses what is fact and what is hype. I think I will actually write something about this idea, now that I’ve thought about it. Let’s put all of those government economic policy advisors on a road show!

]]> By: mike http://toughmoneylove.com/2008/12/01/media-types-struggle-to-get-on-the-same-economic-page/comment-page-1/#comment-1451 mike Mon, 01 Dec 2008 19:38:17 +0000 http://toughmoneylove.com/?p=228#comment-1451 I think what gets overlooked in a lot of analysis is how the "unknown" factor gets played into the game. When there is a large amount of "unknown" people get scared and don't do anything with their money except let it sit in cash. What I think these "pretend like everything is normal and spend money" folks are trying to say is that there is no fundamental change in the "unknowns". The only change is now the media is stoking up fear and making the "unknowns" much scarier and much worse than we previous thought though nothing fundamentally has changed. As for the pundits Ramsey advocates a strategy thats good for good times/bad times, long and short term. (Its weird how good financial advice seems to work in most circumstances) while Valentine tends to focus on what you should be doing right this second under these particular circumstances. I think what gets overlooked in a lot of analysis is how the “unknown” factor gets played into the game. When there is a large amount of “unknown” people get scared and don’t do anything with their money except let it sit in cash. What I think these “pretend like everything is normal and spend money” folks are trying to say is that there is no fundamental change in the “unknowns”. The only change is now the media is stoking up fear and making the “unknowns” much scarier and much worse than we previous thought though nothing fundamentally has changed. As for the pundits Ramsey advocates a strategy thats good for good times/bad times, long and short term. (Its weird how good financial advice seems to work in most circumstances) while Valentine tends to focus on what you should be doing right this second under these particular circumstances.

]]> By: Beef Up Your Piggy http://toughmoneylove.com/2008/12/01/media-types-struggle-to-get-on-the-same-economic-page/comment-page-1/#comment-1440 Beef Up Your Piggy Mon, 01 Dec 2008 13:14:13 +0000 http://toughmoneylove.com/?p=228#comment-1440 While it sounds like verbage is the difference on the surface, I think sadly "normal" is people spending more than they can afford to spend and then wondering why they can't get ahead on their bills. I don't think there is anything wrong with people hoarding cash. Sure our economy needs to thrive but it should not be at the cost of your own future. If it takes the current instable environment to make people realize that they are responsible for their own situation, then I am all for people changing their habits and learning what they can/can't afford. While it sounds like verbage is the difference on the surface, I think sadly “normal” is people spending more than they can afford to spend and then wondering why they can’t get ahead on their bills. I don’t think there is anything wrong with people hoarding cash. Sure our economy needs to thrive but it should not be at the cost of your own future. If it takes the current instable environment to make people realize that they are responsible for their own situation, then I am all for people changing their habits and learning what they can/can’t afford.

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