media induced recession??

iVillage Member
Registered: 09-23-2004
media induced recession??
14
Sun, 03-30-2008 - 8:35am

OK, so dh and I were discussing the recession yesterday (once I think I've got something figured out, I discuss it with him and he raises even more questions for me, hmph!) and he's of the mindset that the media, in essence, has helped to create this recession, or looming recession....

By reporting all this negativity about the economy on a daily basis, Americans have started cinching their collective belts, and not spending, which in the end, does hurt the economy. (Now, I don't think it's such a bad thing to save, but I can see his point here). So, if/when a dem is elected POTUS, the media will pretty much stop with the negativity, things will get back to "normal" and then the dems can take credit for "fixing" the economy.

I realize there are real issues, but there always have been. But, I also think that the media has a HUGE influence on the state of things, too....so it's a toss up for me. On one hand I understand it, but on the other, I feel like there are real problems in the economy. Maybe the media has just made it worse...

WDYT? I'd love to hear other povs on this...no bashing please.




Edited 3/30/2008 9:56 am ET by hot_toddys_mama

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iVillage Member
Registered: 01-12-2004
Sun, 03-30-2008 - 9:36am

The media did not create the banking crisis or the mortgage crisis.

iVillage Member
Registered: 08-10-2005
Sun, 03-30-2008 - 9:50am
It truely amazes me that people cannot see this. Sheesh, just blame it on the media. It is happening all over! Prices are going up on everything, but most incomes of the average person are not. Yes, home prices have really taken a hit.
iVillage Member
Registered: 03-19-2003
Sun, 03-30-2008 - 9:59am
What I think is that for way too long the economy has been determined because people were spending money that they didn't have on credit.
iVillage Member
Registered: 09-23-2004
Sun, 03-30-2008 - 10:00am

I agree...but I also think the media doesn't help any. We already know all this, from first hand experience, there's no need (for the media) to rub it in and make it worse, though. Honestly, I get sick of listening to it.

So I DO change the channel and watch Spongebob or something, lol...

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iVillage Member
Registered: 09-23-2004
Sun, 03-30-2008 - 10:07am

Oh yes, this is a good point, too. Those credit card debts are hard to overcome. I wonder what the USA alone, as a whole, owes in credit card debt. I bet it is staggering....

But, are credit card companies regulated or anything by the govt? Is there really anything the govt. could (or would) do about them? Really, I think by itself, it's more of a personal/individual issue than something the govt. should get involved in...even though in the end, it does affect the nation's economy.

Such a vicious cycle...

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iVillage Member
Registered: 03-26-2003
Sun, 03-30-2008 - 10:48am

I think the media was late in covering this economic downturn.

 


 


I disagree with you, but I'm pretty sure

iVillage Member
Registered: 08-10-2005
Sun, 03-30-2008 - 12:04pm
Credit card debt really bothers me. I have credit cards and ALWAYS have paid them off promptly. My son's ex GF has quite a bit of outstanding credit card debt. I think she must think it will just disappear. She basically ran up debt when they were together, I bailled them out twice. She wanted control of paying the bills, she usually was late paying them and had bank overdrafts. She now has at least a 3,200 debt that my son says she keeps getting mail on. He says he will write on it "return to sender" He got bills for lab tests because she didn't renew my grandson's SCHIPs. Let me tell you she is an irresponsible mess.
Community Leader
Registered: 09-14-1997
Sun, 03-30-2008 - 2:42pm

Although there is an element of escalation because of panic among the people in a depression or recession, I think most people have noticed the rise in prices, the housing crunch, the lending crunch.


That isn't to say that the media has not touched off the 'fear factor,' just that the recession would have happened regardless.

iVillage Member
Registered: 03-31-2003
Mon, 03-31-2008 - 9:20am
I don't think that the media or anyone can talk an economy into a recession, but it certainly doesn't help the situation.

iVillage Member
Registered: 01-12-2004
Mon, 03-31-2008 - 9:52am

"aggressive easing of interest rates"

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