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Originally posted by NousDefionsDoc
define economy
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The stock market as the public's preception of the quality of the economy. Everyday the news talks about the rise or fall of the NYSE, NASDAQ, Dow Jones, etc... To many bad days leading to talks of recession and public preception becomes a reality. Trading slows, value drops in those exchanges that do happen. Companies have less financial capability, less net worth to borrow money and job growth stiffles or unemployment begins. Companies and people stop spending money because of these insecurities, demand drops and supplies stock pile, and the cycle compounds upon itself.
Why did the news of the POTUS getting a BJ by an intern effect the economy? Was it a tangible economic effect or just a precieved preception of insecurity within the nation? Was the fall of the NYSE, Dow a true measure of finacial instability within our economy following 9/11? Sure, the airline industry should have taken a hit, but how true was the measure of loss to MicroSoft, GE, BioMed, etc...?
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We have before us an ordeal of the most grievous kind. We have before us many, many long months of struggle and of suffering. You ask what is our policy? I will say: It is to wage war, by sea, land, and air with all our might and all our strength that God can give us; to wage war against a monstrous tyranny, never surpassed in the dark, lamentable catalogue of human crime. That is our policy. You ask, What is our aim? I answer in one word: Victory Victory at all costs, victory in spite of all terror, victory, however long and hard the road may be; for without victory, there is no survival. Winston Churchill
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