How many of you believe the news media is a BIG part of the problem?

[dex]

What Ziggy said plus the media sell fear to get ratings.

[ls99]

Quote:

Originally Posted by Frugality_of_Apathy So somewhere between the Illuminati manipulating the stock market and rich white men crashing the market to keep poor black single mothers in the gutter lies the truth? There are always more than two perspectives on an issue and just because two are diametrically opposed doesn't mean they are an equal distance from the truth.

I think you missed two words; ...."some merit" to the story
Truth is always elusive.

[clifp]

One of my hypothesis on why it may really be different this time, is that average person gets a least twice as more information than back in the 70s and probably 10x as back in the depression. Clearly fear feeds on itself and the media is reinforcing this fear.

I'm going to make a point of asking all of the over 80 years olds I know; "What do you remember about news in the depression?"

The good news is we have vastly more sources of information, the bad news is we are constantly exposed to it and there is very little editing going on. So people with no or very little background are constantly telling us how bad everything is and will get.
Back in the depression, you had the newspaper, heavily edited news on the radio, and your neighbors experiences and not much more.

[Rustic23]

Clif,
I agree to a point. I also think the problem is the News has an agenda. To that point, I think the news is edited. Listen to NPR sometime. Now if you believe in their agenda, you won't hear it. If you don't it is obvious. I also think that most of the people that deliver the news don't have a clue what they are talking about. They are no different than actors reading a script. All you really have to do is listen to them when they are reporting about something you know about. In my case it would be aviation. Amazing some of the things they say as if it is gospel.

So how does this fit in with the OP topic. I think journalist are too stupid to realise what they are doing! Sharks in the Water! (John Stossel)

[Midpack]

The media are awful in so many ways, but ultimately, we get what we deserve. Media, politicians, products, mortgage meltdown, bailouts, you name it...

[jazz4cash]

Quote:

Originally Posted by FinanceDude Loads were 8.5% "back in the day". No-loads didn't become mainstream until deregulation and Bogle in the mid 1970's......... One "old guy" I know said that front loads were as high as 10% "way back in the day", like the early 60's..........

I recall loads more like 5% overall in the early 80's. The one outfit charging 8.5% that I distictly recall was an outlier...the name escapes me, but you will remember thier slogan "buy term and invest the difference".

[Bestwifeever]

I'm just waiting for the media to realize they don't have start every story with "in these tough economic times"--surely there are some stories they could be covering that don't have these touch economic times as their only theme.

[Midpack]

Quote:

Originally Posted by Bestwifeever I'm just waiting for the media to realize they don't have start every story with "in these tough economic times"--surely there are some stories they could be covering that don't have these touch economic times as their only theme.

It's OK, have you been out Christmas shopping? Everywhere we go the stores are packed, evidently everyone is out there shopping, they haven't bothered to watch TV to know 'how bad it is.' Only thing people aren't buying are cars and houses...

[Rustic23]

Yes, these are tough economic times! Only 93% of the U.S. work force has a job! We are now an absolutely intolerable 2% over full employment! The economy is in such bad shape people are having to wait in line to purchase the new Air Jordan Sports Shoe for $230 a pair!

[CuppaJoe]

Quote:

Originally Posted by Rustic23 Yes, these are tough economic times! Only 93% of the U.S. work force has a job! We are now an absolutely intolerable 2% over full employment! The economy is in such bad shape people are having to wait in line to purchase the new Air Jordan Sports Shoe for $230 a pair!

Can we buy the conspiracy theory that the PC expression, "these bad economic times" is really a ploy to get the peak baby boomers to stay in the w*rkforce? I'm not sure I buy it.

[MichaelB]

Quote:

Originally Posted by Midpack The media are awful in so many ways, but ultimately, we get what we deserve.

Agreed. Disappointment with the media is the result of expecting too much from them. Lower your expectations and they won't look so awful. In fact, if you expect almost nothing you will be occasionally pleased.

Michael

[Gardnr]

Quote:

Originally Posted by Midpack It's OK, have you been out Christmas shopping? Everywhere we go the stores are packed, evidently everyone is out there shopping, they haven't bothered to watch TV to know 'how bad it is.' Only thing people aren't buying are cars and houses...

Sorry, that's just not true. Anecdotal evidence can be very misleading. The consumer is in a serious retrenchment. And even some of those buying things are still adding to debt loads so they're not positive evidence either.

Look at the data. And there's more bad data to follow.

[Zathras]

Quote:

Originally Posted by Midpack It's OK, have you been out Christmas shopping? Everywhere we go the stores are packed, evidently everyone is out there shopping, they haven't bothered to watch TV to know 'how bad it is.' Only thing people aren't buying are cars and houses...

I have been out shopping. Best Buy was not all that packed. More business than a normal weekday, but not as much as the weekend.
Parking places at Target were also much easier to find than I recall from previous last minute Christmas shopping days.

Now, I am not saying my experience proves that shopping is dead everywhere, just that it it proves your experience isn't true everywhere.

[ziggy29]

Quote:

Originally Posted by Gardnr Sorry, that's just not true. Anecdotal evidence can be very misleading. The consumer is in a serious retrenchment.

Maybe, but anecdotal evidence is still more evidence than you've given here, isn't it?

[Gardnr]

Quote:

Originally Posted by ziggy29 Maybe, but anecdotal evidence is still more evidence than you've given here, isn't it?

Oh give me a break. You know very well that anecdotes can tell any story you want them to. I'm not going to (and don't need to) track down all the data that's out there to prove that to you. You're smarter than that.

[Bestwifeever]

And no matter if the anecdotal evidence is true or not, the news media still is not exactly stretching themselves to quit focusing every single story on the recession.

[Grep]

Without malice to anyone, I hope that the media is a big part of the problem, and that they are over-reacting. To the degree that these are true, I will have bought lower than I might have and, one day, will sell higher.

So, could the media kindly reverse course right about now? Thanks!

[liveitup]

Here's a great clip from Dave Ramsey regarding the news media's impact on our economy.At the time we were not in a recession.Times have changed.......I wonder why?

YouTube - Dave Ramsey Explains How Media is Encouraging Recession Fear

[OAG]

You can only be "brainwashed" if you listen. IMHO I think that is exactly what the so called "news media" does. It amazes me that on a light news day they will blow the simplest or most personal news event all out of proportion; i.e., Water Main break in Maryland. I fully expect, depending on the "news" load today, to have "them" come up with a diatribe over the poor water service infrastructure in the USA. I see they have already named the suicide of the Financial Manager (something like Ponzicide) involved with the $50 Billion financial Ponzi scheme. It is a shame the person felt he had to commit suicide but the news media could let the the person and the family have some peace - instead of blowing it all out of proportion.

[MichaelB]

From Bloomberg this morning Bloomberg.com: Worldwide

Quote:

Dec. 24 (Bloomberg) -- Consumer spending adjusted for inflation in the U.S. rose in November by the most in almost two years, a sign that falling gasoline prices are giving Americans more cash to spend for the holidays.

So what do we conclude about the economy? Or Bloomberg?

I think we give too much credit and blame to media. More critical viewing, reading and thinking is called for. Improved reporting would follow.

Michael