No More Chicken Littles - The Sky Is JUST FINE!

That's it! Enough! I've had it! Heads off with the media and politicians with their feeding frenzy on pessimism. All this hype about the US heading for another "Great Depression" is media sensationalism at its finest. If you are sitting at home, paralyzed by the negative messages being sent every time you turn on your computer, TV or radio - then take the initiative and EDUCATE YOURSELF ON THE FACTS! Don't fall victim to the hype that the media knows "sells stories". I'm doing my part to spread OPTIMISM, details are towards the end of this post.

Without boring you with all the specifics from the US Census and Bureau of Labor and Statistics (http://www.bls.gov/) Here are a 2 simple economic facts...

Media Sensationalism Myth: Unemployment is the worst it's ever been!

Truth: Sept 2008 unemployment rate was 6.1% - In the past 10 years the highest this rate has been = 6.3% (June, 2003). The Great Depression lasted from 1929-1941, during that time the lowest unemployment rate was 3.14% in 1929 and the highest was 24.75 in 1933 with a median average during that era of 16%.

Media Sensationalism Myth: We are facing the same mortgage foreclosure rates as the Great Depression.

Truth: info from Mortgage Bankers Association (http://www.mba.org/) 6.4% of ALL mortgages are delinquent to some extent and 2.75% are in foreclosure. During the Great Depression more than 50% were in foreclosure. In 2008 foreclosures are unique to the small fraction of mortgage owners who have sub prime loans, basically these people did not have the where-with-all to be a home owner in the first place. Mortgages to people who could not afford a home (sub prime) only make up 12% of ALL US mortgages, yet account for 52% of all foreclosures.

OK, enough ranting, I think I've made my point. Now for some fun stuff...To help spread

OPTIMISM

I've come up with a new set of notecards for you to send to all of your Chicken Little friends who believe the sky is falling! I'm jump starting this launch by giving away a free set of 10 to one lucky winner. All you need to do is post the media myth that makes you most outraged and why. The winner will be chosen on Wednesday, October 15th at midnight. Good Luck and spread the word!!