The Business and Media Institute released its annual list of the top 10 myths about the economy, as reported by the business media.
Here is the list:
10. Airlines are solely to blame for the unfriendly skies.
Media myth: Blame the airlines for all those flight delays; never mind the obsolete government-run agency creating the gridlock.
9. Consumer spending is the be-all, end-all of the economy.
Media myth: Without excessive consumer spending â€“ especially at Christmastime â€“ the U.S. economy will collapse.
8. The stock market is trouble, whether it goes up or down.
Media myth: One day the stock market canâ€™t sustain growth; the next, weâ€™re just one drop away from another crash.
7. Anyone who â€˜deniesâ€™ global warming shouldnâ€™t be taken seriously.
Media myth: Global warming could cause a â€˜century of fires,â€™ just as it has created allergies and ended winter fashion. If we donâ€™t do something now (i.e. spend hundreds of billions of dollars), itâ€™s only going to get worse.
6. Youâ€™d better not eat/drink that!
Media myth: Forget the right to eat as you please; the nanny-state knows better.
5. Most Americans are losing their homes.
Media myth: Americans everywhere are losing their homes to foreclosure, and the housing bust is going to ruin the economy.
4. â€œGoing Greenâ€? is good for America and business.
Media myth: Businesses are much better off if they go green, and thatâ€™s what people really want anyway.
3. Lenders are responsible for everyoneâ€™s debts.
Media myth: Drowning in red ink isnâ€™t your fault; blame the guy who loaned you the money.
2. Free health care would be great! Â
Media myth: To save our children and the 47 million uninsured Americans, and to keep up with the rest of the world, we must have government-run health care.
1. The U.S. Economy is in recession.
Media myth: The U.S. economy is nearly in, or is in, a recession.