Basic economics...

I have largely steered clear of discussing the economy because the economy is what it is. So why beat a dead horse? I keep hearing from people that this just might be the next great depression. Someone asked me this morning why on Earth I would spend the money on a new iPhone when the economy is in the crapper? What I spend my own money on is my own damn business. Anyway, I keep hearing all this talking about how the economy is going and analysis from so-called economy experts. The media, of course, is making things worse on a daily basis by reporting/twisting all this. They get people's hopes up only to crush them. I am looking at the bigger picture here. The basic economic fact is that the economy runs in cycles. Recessions happen and they will continue to happen. The government may be able to slowdown the onset but you cannot prevent it no matter how hard the efforts. In my opinion, the harder a recession is prevented the worse the actual recession will be. As far as another great depression...it happened once and it will happen again. I doubt this will cause a depression but I suppose we will soon see what happens. I think this bail out of the banks is going to royally mess things up in the long run but that is a different blog. Overall, life has it ups and downs and so does the economy. Just deal with it the best you can.