Reply #15: If you're teetering on the edge of a big economic disaster [View All]

[Citizen Number 9]

(like we are), it is just irresponsible to make predictions of doom and gloom, especially if your opinions carry some weight. Attitude plays a big part in determining what actually happens.

I can't fault them too badly for making rosy predictions about 2009. Ultimately, it is up to each person to determine how they are going to act given the entire body of information that they have before them. If you are the kind of person who seeks out and examines all types of opinions, then you are better informed. If you only like to hear a certain thing, you can be nearly certain your decision making will suffer.

I have found that the predictors of doom and gloom are most often the ones who wish their pronouncements had more impact than they actually do.

This economy hasn't hit bottom in all ways yet, particularly if you are thinking about job losses. The only thing that has a chance of helping is a $500 billion commitment by the new administration to creating jobs. A somewhat better chance would be given by a $2.5 trillion commitment, but even then, I'm not sure we can drag the rest of the world out of recession by sheer force. They would have to be willing to make appropriate commitments as well.