Is the all emphasis on how bad things are in the economy a self fullilling prophecy?

C

Critical_rationalist

Member
It's one thing for the media to give us numbers and figures on GDP, unemployment, wages, foreclosures, the Dow, etc, but then they have to keep giving us depressing stories about people who are laid off, moving back in with parents, etc as if we don't know that people are hurting without it being thrown in our faces.

Does all this depressing news and all these depressing stories make people MORE pessimistic and less likely to take invest, spend, expand their business, etc?

Would we be better off if the media just reported the facts and numbers and not try to hammer it down our throats how bad things are?
 
J

justagrandma

Member
No, when we are suffering it does actually help to learn what people do in a downturn, especially since the last bad one was so long ago.
No cheery stories will get investors back into the market, with fifty billion out of their pockets due to Madoff alone, and more losses reported each day, they aren't going to be swayed by how one guy got a job, or six hundred thousand lost one.
When the numbers are this bad, you don't tend to want to take the kind of action that will see us through. If you don't understand the scope of the problem you won't understand what deserted foreclosed homes do to a neighborhood for the people who still live there.

If I were to look in my area, I'd see a drop in sale and prices of homes, more empty houses beginning to look neglected, repairs put off, seven hundred applying for a janitorial position. The cars in the driveways are getting older where they used to be new every three years.
The median housing price used to be $320.000. Now its $235,000. I don't need the media to tell me anything.
 
K

killerqueen

Member
I think it is better than burying our heads in the sand. If we don't pay attention to what is going on and start preparing, we will suffer even more. I had wanted to start another business before this election but that is not possible now. I just won't chance it until the climate changes. Why would I go ahead and do it only to fail and lose money?
 
F

FreedomRocks

New member
Somewhat, yes. I have reduced the amount of my families spending because my business is failing, due to other consumers cutting out unnecessary spending and not purchasing my services. It can certainly be a self fulfilling prophecy.

A local business had one job opening and received over 100 applications for a very mediocre job due to the energy industry laying off thousands in western Colorado. It is not entirely the media, some reactions are based on on own version of reality.
 
F

FreedomRocks

New member
Somewhat, yes. I have reduced the amount of my families spending because my business is failing, due to other consumers cutting out unnecessary spending and not purchasing my services. It can certainly be a self fulfilling prophecy.

A local business had one job opening and received over 100 applications for a very mediocre job due to the energy industry laying off thousands in western Colorado. It is not entirely the media, some reactions are based on on own version of reality.
 
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