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October 24th, 2008 8:05 AM by David W. Welch
This is just sort of a random post, so forgive me if it does not have a lot to do with Orlando real estate. I was just thinking, thank goodness this political campaign is about to come to an end. It is hard to predict who will be our next president, but with any luck we will have an answer in 12 days. I cannot recall a campaign (or maybe cam"pain") cycle that has lasted so long, and I believe set a record for the money spent. At least one sound bite I heard was the $1 Billion was spent just on the presidential campaign advertising. Keep in mind there were congressional campaigns, as well as all the state and local campaigns and issues being decided. The protracted time frame and the amazing amount of money spent has benefited one industry. The media has had a field day with this, and I imagine has made a bundle on all the ad space they have sold.
Now that this is coming to an end, who is going to be filling all that ad space?This brings me to my investment advice. Sell all your media stock. The LA Times I believe has already stopped printing a real estate section, because nobody advertises in it. All the negative press has finally begun to depress our economy, and the first thing most companies cut is advertising. The political campaigns will end November 5th. So where is the media's ad revenue going to come from? My prediction, they will be looking for a government bailout to save the free press. I am only half joking.
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