Archive for the ‘credit news’ Category

Does the media affect our finances?

Monday, November 10th, 2008

With the “Freedom of Speech” one might wonder where the media might draw the line. It’s not too difficult to discover something negative on your local news channel or even on a national news channel. With all the negative and life altering news today it’s not too hard to discover something negative about our economy or some foreign country. So my question is does our government breed fear or does the media breed fear? Fear ultimately causes action good or bad with society. For example, some information leaks out about scandals within a company and instantly everyone is pulling there money out of the particular stock. Maybe there is a gas shortage and everyone runs to the pump and stock piles on gas.

The answer to the topic is yes the media does affect our finances along with our economy. If the vibe is positive then people are more likely to get out and spend money. During interesting economic times like now it would be nice if our local news channel would give tools to help you out after giving negative information about a current crisis. For instance the Dow is down 700 points, it might be a good idea to hold for another couple of days because some fortune 500 companies are planning on reporting a profit, etc,…..

Some also say that the media has the power to sway the public opinion in there favor. If you think about how powerful the media is, it is pretty scary.

I thought this subject would be a good topic to talk about because I personally believe the media has too much power to say just about what ever they want on the air waves. Lets just assume they said the stock market was going to crash tomorrow, don’t you think everyone would be pulling there money out of the market? Absolutely, and the media makes mistakes as well.

The media currently talks about how bad the lending market is, if you look at what is really going on, it’s really not that bad for the buyer. For instance, if you are ready to buy a house you can still get a loan as long as you have a little money. There are lots of good deals out there on homes, but the media portrays that is this awful time to buy even though rates are still low and there are lots of good deals on homes.

In the end negative media sales and our media thrives on negative news. It’s really not as bad as they say. The media can and will affect your financial situation, because bad news travels fast.

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