Thursday, April 02, 2009

The media should share the blame for the financial mess.

I pretty much blame the media for the loss of consumer confidence.

In the fall of 2008 when the financial markets started to crumble the media jumped all over the story. It was the lead in story for almost all the networks and local affiliates. As usual the media hyped the hell out of the story.

I sat in my living room and didn't quite understand the panic. Everyone I knew still had a job and it was business as usual. If I didn't watch the news I would have thought everything was normal.

However after relentless coverage and a constant reminder on how bad things were guess what happened? Consumer confidence plummeted. How could it not?

Don't get me wrong there are real problems with the economy. Businesses and consumers were living outside their means.

I have noticed that the Whitehouse and the media outlets have recently tried to perform damage control and restore consumer confidence. Letls hope it's not too late.