Is the bad economy caused by media hype

I have to wonder at times .

The world moves on news . The media controls the news . Bad news equals bad day on Wall Street .

We are still seeing the same shit as always that has been played for years in Washington but the media is telling us its bad or worst than ever .

Ok ... I see the bank failure /problems and know they got too greedy and that is real .

But, I sure don't see people slowing down on spending around here . The local cafe is having its biggest year ever . New cars are everywhere . Its hard to find people to work . The drilling company just hired a waiter at the cafe to become a driller ,its so hard to find men who want to work ??

Now I read a news article that says more people are saving at a bigger rate than ever ????? Wheres all that money coming from ? I thought we were broke ?

Its getting hard to know who to believe anymore .

As someone who loves my country and has faith in the constitution, I often shake my head at the media. I often wonder why they get to destroy someone on page one and apologize on page 125 in small print. Why can a reporter protect a source and I cannot. Why are those "Persons who requested anonymity because they were not authorized to speak on the subject" not sought out and fired or arrested.

Yes the world runs on the news. The expression has always been if it bleeds, it leads. I wish that it was only that much. The news is presented with the particular bias of the owner of the media outlet, or the advertisers and backers with a healthy cut of the government regulating what it wants us to know.

As for the economy, the problem seems to be world wide and not just in any one country. US news seems to downplay that. I don't think the media caused it, I think it was caused by greed and the people not watching what their respective governments were doing. The media si sure making hay on it though.

I think media hype can be a big factor. I was thinkin, a while back, (I know, I was surprised at me too!) that if the mainstream media conferred and released a news story about the impending crash of the oil market, in 6 mos. time, we could be paying a couple bucks a gallon for gasoline again. Think about it. Oil is sold in the futures market. The speculators are driving the price of crude up or down. Let the word out that oil's gonna bottom out, the speculators will dump their shares on the market and take what they get before they lose. So, lots of oil on the market = big supply. Supply and demand takes over and prices tumble even more because other speculators will be hesitant to buy up.

Of course, in the meantime, the economy in North Dakota would take a big hit, which wouldn't be good at all.

I often wonder if we has all this news media coverage and their analysis in 1773 and the years after if we would have been successful at the revolution?????

even WWI and WWII.

tom

I see it first hand on a daily basis, the economy is as bad if not worse than the media report. Our place for example which has always been about 90% occupied is no averaging about 85% and delinquency was about 2% is now around 5%. We also have sold at least 2 units a month due to not paying while it was about 6 per year prior. Now I don't know about a given state but Lexington employment is down as are salaries while everything else is going up.

If there is nationwide unemployment of 10%, that means the other 90% of the people are going to work or being supported by the taxes of the working stiffs. We always have something like 4-5% unemployment, so the real number is probably only 5-6% unemployment. IF the weatherman told you that there was a 5-10% chance of rain today for your planned picnic, would you call the rest of the family and say there was too much uncertainty with the weather to risk getting the family together for a good time? Certainly not. 5-10% chance of rain is almost nonexistent, yet 5-6% real unemployment reported by the democrat controlled lame street media is enough to turn the economy upside down, and force people to reign in their spending and increase their savings. It's all a ploy to get you all upset and worried, so you'll do something irrational like start to believe the lies the democrats tell you that they claim will improve the economic picture. Government is the problem, and the ass wipe pseudo journalists who deliver their message of gloom and doom are their mouthpiece. I'm even seeing this seep into Fox News with some of their reporting.

Get your ass up and go to work is my advice, and be prudent in your spending like your parents were. Don't buy what you cannot afford, and remember to put something away for a rainy day. Oh, and stop believing the news outlets and ANY politician. They are all pathological liars, and will burn forever in the pit of hell with satan and fellow demons for wha thtey have perpetrated on the naive and undereducated people of this country. The smart have always known these people are out to fuck up your day.

JMHO