The Truth of Credit

Recently there have been a few folks blaming the media for making the recession worse. I have drastically cut-down watching the news and reading the paper in an attempt to stay positive. However, that does not mean I don’t care about our economy or what goes on in Washington because everyone should. Throughout this media “fast” I’ve found my outlook to be more optimistic. I feel confident that if something breaking happens, I will hear about it from the people who cannot pass a TV without stopping and listening for the latest.

Why would the media want a recession?

• It’s vital to understand that the media needs to keep itself important. Its job is to report the facts no matter how much we hate to hear them. The part the really needs to cease is the amount of opinions that are convoluted as facts and how they attempt to boost ratings by peddling fear to the masses.

• To say that the media has no effect is close minded, to say that it has had the effect that some say is ridiculous. At this point most people should take the news with a grain of salt. Take care to establish what is important and what is just noise.

Where would the media have the most effect?

• The invested retirees have certainly been keeping track. When you see the Dow Jones at 6,875 those dreams of fishing and golfing for the rest of your life seem far off. The unemployed see some kind of benign data and become discouraged. Sales people go to work with the belief that no one has any money. This becomes a never-ending spiral until there is some good news.

• Obviously, there is not much good news to report. The main issue that needs to be addressed is solutions to the problem. So often it seems the news is concentrating solely on the past and who to blame instead of what to do going forward.

To blame the media has its merits.  However, there is no way in quantifying how much of an effect it truly has on the economy. So what do you think? Have you tried a media “fast”? Are you watching more or less news now?