GMA: Sweaters Predict Coming Economic 'Crisis'
What determines an economic crisis? According to ‚ÄúGood Morning America,‚ÄĚ it‚Äôs sweater sales.
ABC‚Äôs ‚ÄúGMA‚ÄĚ began its October 17 broadcast with a report that might be confused with one of the signs of the Apocalypse‚ÄĒcomplete with red flags waving as they mentioned each economic problem. One of those was the sweater factor.
‚ÄúWhen you give or get practical gifts, stuff that you need instead of the stuff you want for your birthday or holiday. When sweater sales go up, watch out.‚ÄĚ
Even though Halloween isn‚Äôt even here yet, Golodryga warned, ‚ÄúTake note if a typically festive neighbor suddenly does away with holiday decorations this year. Odds are he‚Äôs not out of town, just out of cash.‚ÄĚ
According to her report, another red flag is when, ‚Äúthe biggest turkeys and Christmas trees stay unsold while smaller, cheaper trees go.‚ÄĚ
‚ÄúNo problem getting a table at the fanciest restaurant in town?‚ÄĚ That is another red flag.
Golodryga‚Äôs entire report provided woeful warnings about the
‚ÄúThe headlines are scary,‚ÄĚ admitted Golodryga. They sure are.
The Business & Media Institute noted previously that the actual performance of the economy has been different from what has been predicted by the media, especially when it comes to recession.
Back in 2006 the Business & Media Institute noted in a Media Myth: The Recession/Depression of 2006: It Never Happened that the Dow was hitting record numbers, jobs were being created and average wages increased, but ‚Äúthe three broadcast networks buried that good news beneath bread line images from the Great Depression or warnings about a possible recession.‚ÄĚ
In that study, BMI found that ABC, CBS and NBC referenced the Great Depression or suggested that recession was on the horizon a total of 49 times in 2006. Depression and recession were also mentioned in a historical context 28 more times.
But things right now are not quite so bleak as the media say. The