The role of the media in the recession
Discussion
LukeBird said:
Eric Mc said:
During World War 2, if we had the media we've got today, we would have been defeated - in my opinion.
Absolutely, nail on the head there (IMO).I agree with your earlier comment as well Eric (regarding the 'morons'), I was just using them as an example of those most likely to believe what they read; those that are educated are vastly more likely to come to their own opinion/judgement and not blindly believe whatever the press has to say.
I have certainly been affected by the press and the credit crunch/recession, it has made me believe less of what the press have to say and changed my views on what I read/watch in the press.
The Sun. Est: 1964 but The Herold is from 1910 if that counts.
The Express: Est: 1900
The BBC: Est: 1927
Sky news: Est: 1980 something.
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
I try not to listen too much what the media says but it appears that there is way too much 'knee jerk' reaction from the politicians to some paper article (Video nasties, knife crime, gun crime).
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
Eric Mc said:
You may be correct - but just because the economy is depressed doesn't mean you have to be.
But should I be? Is a short, sharp period of depression what's needed? I think it is - just long enough to set everything to where it should be if we hadn't had a sustained period of low interest rates - re-adjust peoples' expectations.What will be, will be...despite the media.
Morningside said:
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
The latter, if the papers had been printing the depressing articles they do now, then (the 40s), I doubt we would have won the war.Morningside said:
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
Probably mostly the latter, but the politicians would do anything to align their views with the voters, how else are they going to control us?! 
Hm. Another thought springs to mind. If the media had been more negative 15 years ago, perhaps we wouldn't have the problems we have now. People wouldn't want to borrow money based on soaring house prices and do things like 100% self-certified mortgages, they wouldn't re-mortgage a house for a BMW, they wouldn't risk money in BTLs. The economy would have grown at a much slower rate.
Hoofy said:
Hm. Another thought springs to mind. If the media had been more negative 15 years ago, perhaps we wouldn't have the problems we have now. People wouldn't want to borrow money based on soaring house prices and do things like 100% self-certified mortgages, they wouldn't re-mortgage a house for a BMW, they wouldn't risk money in BTLs. The economy would have grown at a much slower rate.
I'm more inclined to agree with this, but I still blame individuals' lack of self-control rather than the media. Just because somebody tells you it'll be okay, it doesn't mean the fairytale will last.fid said:
ut should I be? Is a short, sharp period of depression what's needed? I think it is - just long enough to set everything to where it should be if we hadn't had a sustained period of low interest rates - re-adjust peoples' expectations.
What will be, will be...despite the media.
So the media has no effect on how and what people think?What will be, will be...despite the media.
I'm sure Rupert Murdoch (and maybe the BBC too) would be mightily disappointed to learn this.
fid said:
'm more inclined to agree with this, but I still blame individuals' lack of self-control rather than the media. Just because somebody tells you it'll be okay, it doesn't mean the fairytale will last.
All those mad property programmes that were clogging up our TV screens were a major factor in the problem.
Peston, Robnson, Marr and all love the fact they are on prime time TV. Simple. Egos the size of Jupiter. Many I know, including myself, simply ignore the majority the news now. There's only so many times they can use 'crisis, plunged etc' before it loses the desired effect. Keep your head down, ignore the egos an carry on.
AJS- said:
Bad news sells better.
I don't think it has much effect on the economy really - nobody decides to close a factory and lay off staff on the basis of the evening news saying they're expecting another recession.
True. The papers will always print a story about a company losing 5 jobs, rather then another creating 50.I don't think it has much effect on the economy really - nobody decides to close a factory and lay off staff on the basis of the evening news saying they're expecting another recession.
I have been on the recieving end of this. The journo basically said "look. We are writing this article in a negative way. Either we quite you or not..." It was something like the increase in jobs means more traffic congestion, longer bus times for the elderly etc... :rollseyes:
The editor then became our chair, and he wondered why the papers would always seek the negative side of every story...
It's certainly wishful thinking, but it'd be nice to have a media stream which simply presented the facts without the opinion, and left the speculation (or choose a more appropriate word) up to us.
Or can the population no longer think for themselves? Have the years of being fed tripe and hysteria meant that we can't be trusted to reason and rationalise the facts as they are presented?
Or can the population no longer think for themselves? Have the years of being fed tripe and hysteria meant that we can't be trusted to reason and rationalise the facts as they are presented?
Nick Grant said:
turbobloke said:
At least the Express has an antidote to The Times and house price gloom, on their front page - concerning the sentiment aspect, not future trends.
That really is good news, Catherine Jenkins is single! 
What? Something about house prices?
Morningside said:
Daily Wail. Est: 1896
The Sun. Est: 1964 but The Herold is from 1910 if that counts.
The Express: Est: 1900
The BBC: Est: 1927
Sky news: Est: 1980 something.
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
I try not to listen too much what the media says but it appears that there is way too much 'knee jerk' reaction from the politicians to some paper article (Video nasties, knife crime, gun crime).
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
During WW2 the govenment tried to censure the Mirror for publishing a true, but not good for propaganda, story. Michael Foot (ex labour leader was editor at the time). So not all papers toed the government line. However, the stories printed were based on facts and not some journalist's supposition of the facts.The Sun. Est: 1964 but The Herold is from 1910 if that counts.
The Express: Est: 1900
The BBC: Est: 1927
Sky news: Est: 1980 something.
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
I try not to listen too much what the media says but it appears that there is way too much 'knee jerk' reaction from the politicians to some paper article (Video nasties, knife crime, gun crime).
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
With regard to the original post, I am convinced the media made the news during the 2007/08 recession panic and did not just report it. If the BBC had not reported the Northen Rock loan issue in the way it did would we have had banks being bailed out by the taxpayer? Nothing was said about Barclays who were doing exactly the same thing at that time. I know the Rock business plan was barking mad, but in the past I'm sure these things were dealt with behind closed doors, rightly or wrongly.
uknick said:
Morningside said:
Daily Wail. Est: 1896
The Sun. Est: 1964 but The Herold is from 1910 if that counts.
The Express: Est: 1900
The BBC: Est: 1927
Sky news: Est: 1980 something.
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
I try not to listen too much what the media says but it appears that there is way too much 'knee jerk' reaction from the politicians to some paper article (Video nasties, knife crime, gun crime).
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
During WW2 the govenment tried to censure the Mirror for publishing a true, but not good for propaganda, story. Michael Foot (ex labour leader was editor at the time). So not all papers toed the government line. However, the stories printed were based on facts and not some journalist's supposition of the facts.The Sun. Est: 1964 but The Herold is from 1910 if that counts.
The Express: Est: 1900
The BBC: Est: 1927
Sky news: Est: 1980 something.
So it looks like most of the everyday papers were around during the war or do you mean how they have shifted in opinion from then?
I try not to listen too much what the media says but it appears that there is way too much 'knee jerk' reaction from the politicians to some paper article (Video nasties, knife crime, gun crime).
Not sure if this is due to the politicians thinking that the papers really reflect what the public thinks OR are more frightened into what they may print about them.
With regard to the original post, I am convinced the media made the news during the 2007/08 recession panic and did not just report it. If the BBC had not reported the Northen Rock loan issue in the way it did would we have had banks being bailed out by the taxpayer? Nothing was said about Barclays who were doing exactly the same thing at that time. I know the Rock business plan was barking mad, but in the past I'm sure these things were dealt with behind closed doors, rightly or wrongly.
I think other financial journalists had a part to play as well - although Peston gets most of the stick because he was probably the highest profile of the reporters.
Gillian Tett of the Financial Times (who I think is one of the best financial journalists out there) was also pretty stark in her warnings about where the ecomony was going.
In Ireland, David McWilliams had been predicting a financial disaster for at least 5 years.
Gillian Tett of the Financial Times (who I think is one of the best financial journalists out there) was also pretty stark in her warnings about where the ecomony was going.
In Ireland, David McWilliams had been predicting a financial disaster for at least 5 years.
I've spoken to jouralists from the Daily Mail, BBC TV and Radio, The Guardian and several local newspapers on issues relating to youth unemployment in the last couple of months.
With the exception of the Guardian (honestly) the others were all looking for me or someone I knew that was willing to blame either the current or previous Government for what has gone wrong. What they weren't interested in were any suggestions of how people can help themselves make things better, it was as if we are incapable, in their eyes, of doing anything as citizens without instructions from downing street.
With the exception of the Guardian (honestly) the others were all looking for me or someone I knew that was willing to blame either the current or previous Government for what has gone wrong. What they weren't interested in were any suggestions of how people can help themselves make things better, it was as if we are incapable, in their eyes, of doing anything as citizens without instructions from downing street.
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