Newspapers and major network television news is pumping out bad economic news right, left, and center.
Something to consider: Newspapers and mainstream media outlets are themselves experiencing the worst of the current economic situation. Major newspapers (the NY Times, the Chicago Tribune, the Miami Herald, and others) are laying off staff and may declare bankruptcy. Ad buys on television are way down.
There are difficult economic markets right now. Some old business models are failing and may collapse entirely. But the US and world economies are not uniformly bad.
Keep in mind that the main reporting on these events have a personal experience bias that could be shaping the way they are reporting them.
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