That bad?! When’s the last time the collective media was right?

I’m sick and tired of turning on the news and reading the paper only to see overhyped negativity wherever I turn.  All this talk about plunging this, and great depression that.  I’m sure it sells papers, but it also terrifies people and perpetuates the downturn they are madly pitching.  Here’s the problem.  When was the last time that everyone in the media was in total agreement on something and it turned out to be right? Y2K? Nope. SARS? Nope. $200 Oil? Nope.  Patriots winning last years Super Bowl? Nope.

Given that incredible track record, I have to wonder if everyone thinks this is the Great Depression what the odds are that it is? That’s not to say that economy is good or getting better any time soon, but falling off a cliff…..I don’t think so.  Yes, like tech stocks, homes were and are overpriced, there’s too much debt, and a deleveraging is necessary and occurring.  Still the media all but ignores much of the decent news coming out.  For example, what about small companies like Coke, Johnson & Johnson, Wells Fargo, Google, IBM, etc. beating earnings estimates? What about plummeting gas prices and commodity prices in general? Wasn’t gas supposed to cost $5 a gallon by now? What about the fact that as many dollars in mortgages were written this Sept as there were last Sept.? What about the many startups still getting funded? What about Warren Buffet, the greatest investor the world has ever known, writing a New York Times Op-Ed saying it’s time to BUY the US stock market?

Ok so Warren Buffet says buy, Jim Cramer says sell.  The weatherman can’t tell me with much confidence what the weather will be next week.  Yet, for some reason we can all predict with near certainty the collapse of the US economy for the next 2 years?????????? Let’s not only hope they are wrong, let’s work to make sure they are!