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Recessions are part and parcel of a normal cycle. The media can't create one and didn't create this one.
To say so discounts the very real effects.
Incomes have dropped in buying power over the past 10 years, the media didn't do that.
Oil costs are rising, the media didn't do that.
Food costs are rising, the media didn't do that.
Housing costs exploded, the media didn't do that.
People abused easy credit, the media didn't do that.
Manufacturing has disappeared, the media didn't do that either.
Using the media as a whipping boy completely detracts from the real issues that affect real people and their standard of living. Using the media as an excuse is no more than sticking your head in the sand and refusing to take responsibility for yourself and your inability to see past your own issues.
Actually the question shouldn't be "Did the media create this recession?"... it should be more like "Did the media speed up/exacerbate this recession?".
I think most of us agree that there is and was fundamental weaknesses in our economy. But, in some shape or form, we also agree that the media's persistent drumming of the same types of articles or repeating the same story five times over has influenced public perceptions... therefore causing a national reduction in spending and life style decisions.
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Retarded
What created this soon to be official recession.
1. Retards at bank making bad loans
2. Retards that got home loans or refi's and did bother reading their contracts.
3. Retards (especially Alan Greenspan) at the FED that felt the need to interfere in a the natural ebb and flow of the markets.
4. Retards at the National association of Realtors that kept saying "Now is a great time to buy!"
5. And finally Retards that actually believed that the markets were going to go up forever.
So in essence Retards created our current situation. Granted the media didn't help the situation that much either.
Actually the question shouldn't be "Did the media create this recession?"... it should be more like "Did the media speed up/exacerbate this recession?".
I think most of us agree that there is and was fundamental weaknesses in our economy. But, in some shape or form, we also agree that the media's persistent drumming of the same types of articles or repeating the same story five times over has influenced public perceptions... therefore causing a national reduction in spending and life style decisions.
-chuck22b
Actually, No. We don't all agree. And as the economy actually requires some contraction in order to shake out the excesses of the recent past, for the media to NOT report on it would be both insane and a complete dereliction of duty.
The media doesn't stop me from shopping, my decreased buying power certainly does. And what a sad sad situation that the economy is so dependent on consumerism.
Actually, No. We don't all agree. And as the economy actually requires some contraction in order to shake out the excesses of the recent past, for the media to NOT report on it would be both insane and a complete dereliction of duty.
The media doesn't stop me from shopping, my decreased buying power certainly does. And what a sad sad situation that the economy is so dependent on consumerism.
Sorry, I should of not used "most of us agree"... there's always people who disagree. It really isn't the reporting that is bothersome, it's more on how it's being reported, and how frequent the same stories gets run. The wording and words used in headlines can make a tremendous difference. "Prices Dive" vs. "Prices Fallen" vs. "Prices Softening" can make a huge difference in perception. The media determines what is considered a "Dive" vs. "Fallen" vs. "Softening". That's why public officials are very careful in what they say in prepared statements. The media doesn't have any such reserve or accountability - sensationalism sells advertising!
For example, last month CNN reported that New Home sales hit a 13 year low in its' "Mortgage Meltdown" section. What they didn't note is that the South and Western markets actually had positive sales. The headline could of read differently as "Glimmer of Hope in the New Home Sales Front" or something like that instead.
I don't think the media created the recession, but the media is certainly helping to prolong it by putting the idea of recession into the minds of the masses. Whatever we focus our attention upon, we get more of. I agree with 70Ford who said,
Stop saying "DOOM AND GLOOM!" Say "Roses and Rainbows!"
Sorry, I should of not used "most of us agree"... there's always people who disagree. It really isn't the reporting that is bothersome, it's more on how it's being reported, and how frequent the same stories gets run. The wording and words used in headlines can make a tremendous difference. "Prices Dive" vs. "Prices Fallen" vs. "Prices Softening" can make a huge difference in perception. The media determines what is considered a "Dive" vs. "Fallen" vs. "Softening". That's why public officials are very careful in what they say in prepared statements. The media doesn't have any such reserve or accountability - sensationalism sells advertising!
For example, last month CNN reported that New Home sales hit a 13 year low in its' "Mortgage Meltdown" section. What they didn't note is that the South and Western markets actually had positive sales. The headline could of read differently as "Glimmer of Hope in the New Home Sales Front" or something like that instead.
The south where? Florida home sales are done, Tennessee sales are down, and Georgia to my knowledge sales are down. Only places that sales are not down are places that were not affected by a run up in home prices. It is easy for people to blame the media or claim the media is prolonging the recession. It is much harder to do actual research and find out what is going on in the economy and what factors are at play. Once people are educated they can then make intelligent analysis on whats going on. For those who blame the media, I have seen less intelligent statements and more conjecture. research is and always will be the key. A lack of research is what got America in the position it is in now.
The south where? Florida home sales are done, Tennessee sales are down, and Georgia to my knowledge sales are down. Only places that sales are not down are places that were not affected by a run up in home prices. It is easy for people to blame the media or claim the media is prolonging the recession. It is much harder to do actual research and find out what is going on in the economy and what factors are at play. Once people are educated they can then make intelligent analysis on whats going on. For those who blame the media, I have seen less intelligent statements and more conjecture. research is and always will be the key. A lack of research is what got America in the position it is in now.
Hi Wild Style,
Unless we have infinite time on our hands and are able to actually fly across the country and look at the regions, etc. on hand.... the only data, and research we can actually get are from reports, and what is reported in the media. The regional sales numbers are from the Commerce Department report. I didn't make up the numbers. There was a positive growth in the south and the west... and the north east was doing alright until the massive drop in February. Take a look at the report yourself and make your own conclusions: http://www.census.gov/const/newressales.pdf
I don't blame the media for the recession. It's obvious there are larger and more complex economic factors on hand. It's just that the media should have more responsibility and have more reserve when choosing how to report. Unless you think the media has no influence whatsoever on public perception.
The media was ra! ra! during the housing boom too? Do you think that could of influenced sales? Remember the Dot com boom and how they were reporting on instant wiz kid millionaires... and more recently instant housing millionaires?
We have to remember that the media is a business. Their direct revenue source isn't the viewers... but the advertisers.
Quote:
A lack of research is what got America in the position it is in now.
And lack of research will also prolong the recession we are in now... ie, people just look at what the media tells them.
For example, last month CNN reported that New Home sales hit a 13 year low in its' "Mortgage Meltdown" section. What they didn't note is that the South and Western markets actually had positive sales. The headline could of read differently as "Glimmer of Hope in the New Home Sales Front" or something like that instead.
Well to be honest "Glimmer of Hope in the New Home Sales Front" is quite a biased title with a manipulative intent. Not factual or informative at all. Especially if most markets fell by double digits and a couple rose by one or two.
If you want to argue that media titles should represent only the facts in a neutral tone, I might be willing to go along. Of course they would probably be so dry that nobody would buy the papers.
Unfortunately I don't buy the argument that bias is OK if it is positive to what one group wants. Continued overspending might be good for the economic figures, but bad for those already drowning in debt. House prices dropping bad for sellers, good for buyers. Less consumption bad for stores, great for the environment.
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Retarded
