Economics: The science that deals with the production, distribution, and consumption of goods and services, or the material welfare of mankind.
Economics is not a science.
If you spend one moment watching the business news, or the news, you are doing yourself and the world around you a disservice. All the news services pay their bills and make a substantial profit by taking whatever stirs you up and showing it to you. There's no better way to do that than to create a mania. They did it with the economy when the market was up. They hyped the up-market because it excited you. Was the market really as good as they said it was?
Now they're hyping the down market. Is this market as bad as they're telling you? They will continue to hype this market until:
1. A better story comes along (The economy story replaced the Iraq war story)
2. They look stupid hyping the down market because the market is going up
It's all hype, all the time.
Don't blame the news media; it’s their job. If their ratings go down they could, heaven forbid, lose their jobs. And that would be a real tragedy.
You will do more about your anxieties by addressing one problem today then worrying about six.
If you’re addicted to the news, wean yourself off by watching one minute less per day until you’re not watching any news. If their ratings go down they will be forced to look for new stories, more entertaining stories. And you will feel better and you will do more for the folks around you who need you to focus on the real world, your world.
Darkly Comical Quotes on Economics
An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today - Laurence J. Peter
To most of us, the leading economic indicator is our bank account. - Joe Moore
Economists think the poor need them to tell them that they are poor. - Peter Drucker
In all recorded history there has not been one economist who had to worry about where the next meal would come from. - Peter Drucker
People don’t eat in the long run—they eat every day. Harry L. Hopkins
It’s a recession when your neighbor loses his job; it’s a depression when you lose your own. – Harry Truman
An economist is a man who states the obvious in terms of the incomprehensible. – Alfred A Knopf
If all the economists were laid end to end they would not reach a conclusion. - George Bernard Shaw
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