Is the media making the economy worse?
posted in Uncategorized |Everyday I see headlines from the media pointing to how terrible the economy is, even going so far as to relate the current state of our economy to the Great Depression. For whatever reason, the media appears desparate for news stories and tend to over-do things for the sake of ratings.
Of course, they may want to re-think their strategy. If they continue to try and scare everyone into believing that the world is falling apart, then people will also stop buying their newspapers and cancel their cable subscription.
I tend to talk and meet with a lot of people in the area on a daily basis as part of my job and on a general note we tend to have a very similar conversation. The economy, while challenged, is not as bad as the media is portraying.
In early December, Opinion Research Corporation conducted a survey which asked, “Do you think the financial press is making the economic crisis worse by projecting fear into people’s minds?”
77% of the respondents think the U.S. media is making the economic situation worse by highlighting negative news and, as a result, lowering consumer confidence and investment activity.
Rather than be frozen into fear of inaction, continue to live your lives, take care of your family and work hard. By the end of 2009, most economists predict that we will be out of the recession. By then, we’ll be looking back on this and realize that it wasn’t nearly as bad as the media was portraying and opportunities abounded.
But, we’d like to know what you think. So we’ll be asking a similar question of you in our community poll, “Is the media scaring people and making the economy worse?”
You can cast your vote in the community poll, which is located on the left sidebar. We will report back to you next month on the results.
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