The High Price Of Panic

Why is it that the recession brings out the extremes?

A definition of 'Panic' that rings true to me is when we sublimate our sensibilities to sensational and unsubstantiated circumstances.

Consider the retail sector - the media bemoaned the death of holiday shopping at every opportunity leading up to "BLACK FRIDAY". It is estimated though that the day after Thanksgiving yielded a 3% increase ABOVE last year. The media reported this as the "smallest growth in years".

But consider this:

It was still growth.
It was during a recession.
It was amidst substantial job losses
It was happening despite Wall Street melt-downs, auto industry collapses, a credit crunch of monumental proportions and a paralyzed economy.

Interestingly enough, prices were slashed by retailers by 50-70% (versus an average of 30%). It seems that PANIC PRICING yielded growth with losses. Good luck to them. Such stimulus will yield store closures and job losses...not the delusions of sustainability they envisioned.

Worse still are the industries that have given themselves over to socialistic control. It's a recipe for disaster. And the high price of panic here will be borne by taxpayers who buy into the lie.

Instead of panic, I choose performance.