Wednesday, March 04, 2009

It's not all media hype

Twice this past weekend I found myself talking to two men - separate conversations - who believe that the "economic crisis" is mostly media hype. "They've got to sell papers", is what one of them told me.

I didn't know what to say. As someone who's fairly well convinced that we're heading down and fast I didn't know where to start. I simply let each of them say what they had in mind and walked on. I was shocked. I have no idea what these men do for a living, but I hope to God they're right. I'm sure they're wrong, but I hope they're right.

Today the news is full of the "mini-budget" or emergency budget or whatever you want to call it coming at the end of the month. I'm sure there's a reasonable explanation for waiting a month - having been about 4 months late realizing how bad things are - but it's lost to me. I can't understand why they don't just impose the tax hikes right now. What does the state gain from such a delay?

There's a small part of me wondering if there isn't something bigger being planned for the economy than 2c extra on the tax rates.