Doesn't all this media emphasis of a slowdown seem irresponsible? (credit score, debt)

[mbuszu]

I pose the question to you all, especially fellow business owners out there... Doesn't all this media emphasis of a slowdown seem irresponsible?

My point of view is that sure there's a credit crunch, but other than that everyone is still producing the same quantity of perishables (it's not like an environmental calamity has occurred), manufacturing hasn't come to a standstill for anything people really need, and for all intents and purposes our printed money is still worth something in other people's eyes. That said, I cannot listen to 5 minutes of TV or radio news coverage without hearing someone claiming that the sky is falling regarding the US or global economy.

I have always and still praise how we now live in the information age, but at what point is the media now creating reality vs just reporting on it?

Your thoughts on this?

[texdav]

Well;it is a recession and not a depression. People need to realise that the unemployment numbers compared to the 80's recession are in numbers. The number employed is higher so the per centage is lower;which many in the media have now started reporting since the election is over withBut its still not good and many areas have much more unemployment than others.Alot oif people are hurting especailly has many employed lose go into foreclosure.

[floridasandy]

obama said today that we have the highest unemployment in 27 years. i don't think that the media can avoid discussing our financial difficulties as it goes across the board now, affecting states, cities, towns, businesses. if anything, i think that there is a lot that the media has withheld from the public. there has been a shifting of wealth away from the united states.

[chet everett]

Oh brother: "a lot that the media has withheld from the public. there has been a shifting of wealth away from the united states" Where is this wealth shifting too? Why would they hide shifting wealth? Not credible sorry, but I do think you are correct about the of the media being less than honest.


Obama is talking DOWN the economy so he does not questions about Illinois corruption.

The news media is talking down the economy so that come January 5 they can start talking it UP and validate their anointed one as they switch there stories 180 degrees. Their gain is POWER to validate how THEY MADE THIS GUY and they RULE by their values now SUCKERS!!!

Now I personally like the choices that Obama has made for his economic team, and I do think they will have some success. But I do not expect a V shaped recovery and I do think that in a very short while the media will be criticized for glossing over the bad economy...

It would be enormously helpful if people turned off the TV.

[cohdane]

Personally, I'm grateful to the media for what they manage to report. I'd much rather hear an economist who called the housing crisis tell me what's going to happen next vs. a banker, realtor or someone else who has a vested interest in everyone going along with their hype.

Obama is saying it's going to get worse before it gets better. So are the economist covered by the media. So are the basic economic stats released every week. I don't think there's any big conspiracy here to miraculously turn this thing around on January 5.

We hit the iceberg. The economists are attempting to direct the public to lifeboats.

What you do with their information is your choice.

[John23]

It's another way of controlling the masses. Notice how the fear has shifted in the last few years....

-First it was 9/11 and the terrorists.

-Then Bin Laden. What happened to him?

-Then the terror alerts and terrorist "videos" that conveniently popped up at opportun times. What happened to those?

-Then Iraq WMD's!

What happened to the terror alert system? The color coded system.

All that is gone. Now the economy is the new way to scare everyone. This is december, weren't we suppose to have food shortages about now? And be living in shanty towns?

I wouldn't say its the information age, if most people still believe media/corporate/govt propaganda. "Information age" is sort of a cover, to pretend we live in a world with free access to information. It gives the illusion of choice and freedom. But if you're still reacting to what the media says, and the media is influencing how you live, then this "information" isn't going to do you much good.

And all these other scare stories in the last 5-10 years..."credit scoring", now you worry about what your credit score is. "Identity theft"....now you worry about your identity being stolen. More ways to hold you down. It'll be something else in the future.

[John23]

There have been some other subtle shifts going on.

-There are more "experts" now. And they tell you what you already know. That's a difference vs past recessions or downturns.

90% of the country thinks the economy is bad, but it took a year for the "experts" to tell us we're in recession! We're not allowed to trust our own judgement anymore. And the media jumps on all this. They confer with the experts and legitimize them. And drown out other points of view.

-Lots of, "it could happen to you!" stories. You better watch out, if you don't make your home payment, you could be foreclosed. It could happen to you! The housing tsunami could strike you!

Even though 90% of home owners were resonsible and pay their bills on time and don't over extend themselves. The media represents what the idiots have done, not the responsible.

At what point does it become a self fulfilling prophecy? When they report on unemployment (using phony numbers), sometimes they talk about discouraged workers leaving the workforce. Do you create more discouraged workers by constantly talking about how bad things are out there?

Also, the media depends on drug company, and pharmacutical advertising. More fear and scare tactics, to sell more drugs to relieve you?

Be very skeptical.

[neil0311]

We have 24 hour news cycles, and the Internet where anyone can be an "expert." There is no denying the reality of the recession and the hardship being experienced, but this ranting and raving about depression and doom is over the top. I guess the old saying "if it bleeds, it leads" is just as apropos in this case.

The media haven't caused the problems, but the doom and gloom with constant analogies to the 1930s is over the top.

[AnthonyB]

While the media affects psychology, no argument there, I can't subscribe to the idea that it is irresponsible to broadcast something negative per se, especially if something is true.

We had plenty of hyping up the economy and bubbles for years, doing so just made the fall off the other side harder.

Economies are cyclical, with rises and falls. The drops weed out the inefficient. Wishing it otherwise is delusional.

[Philip T]

I am a business owner who thinks the starting premise has it completely backwards.

If anything the media has under-reported how stupid the entire US business operation model has been over the last 30 years.

It is business folks who own and advertise on the media, and have made it the mass of morons it is. If anything the media has under-reported how stupid the wealth-by-debt system we have been trying to run is, and what the true downside risks are.

And truly I have to say I am mostly amazed that the wheels have stayed on the wagon this long.