Not So Fast Economy...
By Kickntrue on 9/25/08
While your money may be faltering- don't expect your financial institution to stop spending their money on golf events.
"Competitors of those troubled giants like AIG and Merrill Lynch have every reason to pump up ad spending to steal away customers," Media Life magazine reported last week. "And of course the new owners of these institutions will want to up spending to repair what damage they can." To that point, Golf Channel president Page Thompson says, "At this time we have not seen any negative impact on either this year's sales or on future advertising plans."Good to see my money is being spent well.
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it's ridiculous the money companies spend on advertising... Makes you wonder.... if these big name companies started spending less, what would happen? would the price of products come down and boost the economy or would the economy get worse in a "trickle down" effect because they're not spending money at these avenues. i've often wondered if there even IS a way to get out of this slump we're in. I heard today on the radio that the USA is the "2nd most broke country, right after Portugal" according to some study. i could believe it.
Over regulation of our financial institutions is responsible for this economic crisis, don't believe me try checking out the Community Reinvestment Act passed in 1977 by the Carter administration. Basically it FORCES financial institutions to provide "bad loans".
A bailout like this will introduce additional regulation and limitation on our free market. We do not want the government meddling in the free market more, we want them meddling less.
Look at Fannie Mae and Freddie Mac, government chartered entities, that are a disaster. They cooked the books and paid huge bonuses to "executives" who were appointed to the post. The order of magnitude of the cheating here is hundreds of times greater than Enron yet we hear nothing about it. For those of you interested here is a little bit on the debacle here
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