Tuesday, October 28, 2008

Stocks: The Meltdown and the Media

Posted by Plus Master at 11:10 AM
 

Could the volume—and tone—of TV, Web, and print coverage of the market's gyrations actually be making things worse?

Wall Street has been through crises before—1907, 1929, the 1970s, and 1987 all tested investors as much as the financial crisis of 2008. But this time, something is different: Three cable business channels and countless web sites offer 24-hour coverage of financial markets seven days a week.

The sheer quantity of information available raises the question: Could the media actually be contributing to the very crisis it is covering?

During past crises, average investors needed to wait until the evening news or the next day's newspaper to learn how their investments had done.

Read the full story here on the BusinessWeek Website.

 
POSTED IN Recent News Subprime Fallout

3 Responses to "Stocks: The Meltdown and the Media"

PLUS Lisa P Says: November 16, 2008 (11:11PM) Everyone, young and old, should be aware of the importance of financial responsibility. Many adults struggle to sustain a good budget or base their entire focus on credit repair, forgetting about the little ones who rely on them the most. I am guilty of this as well. I found the linked article on ways to teach kids money management and responsible money usage. This was definitely a wake-up call for me. It is our responsibility to educate our children on money management. If they can be trained to use money responsibly during a recession, they will be much better off in this world we live in, especially when our economy decides to turn around. I want my kids to be aware and widen their knowledge in this matter. I used to have credit problems and desperately needed credit repair. I don’t want my children to go through what I’ve gone through. We, as parents, can save our children from future financial hardships if we take the time to properly equip them with the skills and knowledge of the importance of financial responsibility. There are too many kids that go out into the real world without understanding the value and importance of money. I don’t want my children to be like those kids that suffer hardship financially. I must figure out a way to use vital aids to teach my kids the consequences of misusing money, like using credit cards irresponsibly. Somehow, I had managed to get into a lot of trouble just by one credit card. I had turned to credit repair services to get myself back on track, but I must say, it was not a pleasant ride. I don’t want any credit issues to be the beginning mark of my children’s independent lives. Click to read more on Credit Repair
PLUS Credit Repair calls for Help!!! Says: December 02, 2008 (10:12PM) Everyone sometimes need credit repair like me. You know what? It greatly helps me because I’ve spent the majority of my adult life trying to keep up with the Joneses. As an American, there is an undeniable pressure to live the “American Dream”. I just think it’s ironic that the American Dream has become almost identical for everyone—big houses, fancy cars, a white picket fence, and expensive things. It’s pretty evident that all of these luxuries and material goods aren’t making Americans happy. Instead of happiness, I feel guilt and stress when I make purchases at the store. I feel guilty for buying something I know I don’t really need, and I feel stress because I know my credit card bill is going to be huge. I, like many Americans, need to reevaluate what really makes us happy. Focusing on material goods isn’t making me happy. All these things that I have are just weighing me down emotionally and financially. The simple things in life make me happy—like spending time with my kids, getting outdoors, and talking with my husband. The best part is none of those things cost money. So why then are Americans so consumed with spending money on worthless things? Americans are addicted to shopping and spending to impress each other. I’m sure my designer clothing impresses a few people, but if they knew how much credit card debt it took to dress like this, they wouldn’t find it as impressive. Keeping up with the Joneses is overrated, and I’ve paid a heavy price to try to live the “American Dream”. I’m going to start living my own dream—the real American dream. I’m going to start managing my money, saving my money, and paying off my debts. My credit score is also extremely low, so I’m going to get credit repair help. With less debt and credit repair I can focus on the things in my life that truly make me happy—my family. Click to read more on Credit Repair.
PLUS Payday Says: January 21, 2009 (3:01AM) I think everybody needs to save money. The fluctuating economy brings everybody in financial turmoil. A lot of people are also using creative ways to save money. Companies are too – take Gannett, Inc, for instance. Gannett runs several newspapers across the country. They were facing the decision of whether or not to lay workers off, but decided instead that they'd rather have everybody take a week of required unpaid leave. Ordinarily, this would sound bad, but the thing is that after the week off, they get to come back to work. If they have a gap in their finances as a result, they can turn to payday loans if they need them. There are a lot of responses to the recession where people are finding money saving tips.
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