Is the Media Responsible for Making the Global Economic Crisis Worse?


Are media outlets making the global economic crisis worse than it really is? Are they exaggerating reports and stories just for the headlines? Is the media undermine consumer confidence and making matters worse? A recent survey seems to think so as 77% of Americans polled blamed the media for making the situation worse. The interesting question that comes to mind as stated by Red State is, could media organizations actually be held liable for the damage they have caused by such over the top reporting.

Seventy-seven percent of Americans believe that the U.S. media is making the economic situation worse by projecting fear into people’s minds.

The majority of those surveyed feel that the financial press, by focusing on and embellishing negative news, is damaging consumer confidence and damping investment, making a difficult situation much worse. The poll was conducted via telephone, December 4 – 7.

The US survey of 1000 adults was conducted by Opinion Research Corporation and is statistically representative of the total U.S. population. The survey question: “Do you think the financial press is making the economic crisis worse by projecting fear into people’s minds?” While the overall response indicated that 77% of Americans answered YES, here are highlights of note: Household Incomes: $25k – $35k — 79% answered YES $35k – $50k — 88% answered YES $50k – $75k — 76% answered YES $75k – more — 78% answered YES Demographics: 85% of young adults (18-24 yrs old) answered YES 77% of males and females alike answered YES 65% of blacks answered YES

Richard L. Scheff, a national expert on corporate liability and white collar crime issues, warns media that they could potentially be exposed to liability despite apparent constitutional protections:

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  • Comments

    7 Responses to “Is the Media Responsible for Making the Global Economic Crisis Worse?”

    1. PA Mom on January 2nd, 2009 9:45 am

      The media is absolutely responsible for consumer confidence. I spent half as much as I would on Christmas this year for fear that I might get laid off from my job. My husband and I plan to be prepared to lose our jobs, and we are spending only what we need to survive. If we are not on the verge of a depression, then someone better say so and soon.

    2. bob on January 2nd, 2009 9:59 am

      The media is run by those who rule us. They have continually emphasized this crisis to instill fear. Later, they will propose to the dazed and frightened Americans their “solution” to this crisis: We must merge with Canada and Mexico for the “common good.” The powers-that-be create a crisis, then they offer the solution to the crisis (one world government); a solution no one would accept had the crisis not been created in the first place.

    3. Mary UK on January 2nd, 2009 2:19 pm

      This is an excellent point, I fully agree, certainly things are bad but consumer confidence IS at an all time low and this affects our spending habits, knock on effect to JOBS!!!

    4. Sweet_Thang on January 2nd, 2009 3:32 pm

      Hey, the media was a huge help in getting zer0bama elected president of the US in 2008. I’d call THAT making matters worse!

    5. PA Mom on January 2nd, 2009 9:59 pm

      I never thought that there was a motive behind to instill fear. I’m glad you enlightened me. A one world order would not surprise me. The media is a way to brain wash we the Americans. How sad is that.

    6. txchic on January 3rd, 2009 12:55 pm

      media hype or not, the whole situation is an excellent opportunity for those of us who aren’t worried about job security. stocks will eventually turn around as well as the housing market & the bargains are every where!

    7. Dolf on January 7th, 2009 9:23 am

      the fear tactics is what elected Bush (esp. 2nd time).

      think the lack of confidence may have something to do with the enormous debt that the average citizen is in.

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