The Media’s Top 10 Economic Myths
December 14th, 2007 | by rocketc |You can read about them at the Business and Media Institute. Here is the list:
- The US economy is in recession - yet it is still growing.
- Free health care would be great - if it didn’t cost so much.
- Lenders are responsible for everyone’s debt - if only. . .
- Going green is good for America and business - actually it is good for companies who lobby for climate change legistlation and sell carbon credits. It is very good for Al Gore.
- Most Americans are losing their homes - no one has foreclosed in my neighborhood. . . yet.
- You’d better not eat/drink that! - not really an economic myth and I probably shouldn’t eat it. But I don’t want the news anchor or the city council to dictate what should be in my diet.
- Anyone who denies global warming shouldn’t be taken seriously - there is much disagreement on this issue.
- The stock market is in trouble no matter what - but the absence of panic makes it tough to drive up ratings.
- Consumer spending is the be-all end-all of the economy - that must mean that saving and paying down debt is bad for the economy.
- Airlines are solely to blame for the ‘unfriendly skies’ - the government run NSA, FAA and air traffic controllers have nothing to do with it.
The job of a reporter/journalist is to report the news. We have too many people in the news business who want to ‘change the world’ and try to do it by presenting their viewpoint in a supposedly unbiased news article.
If a journalist wants to change the world, they should run for office or join an advocacy group, not go to work for NBC, CBS, ABC, CNN or FOX. (or the BBC for those of you across the pond)
13 Responses to “The Media’s Top 10 Economic Myths”
By Minimum Wage on Dec 14, 2007 | Reply
And exactly how is a growing economy good for unskilled workers? When the economy gets hot, rents go through the roof and I and up worse off.
And how does the stock market - good or bad - impact my life?
By rocketc on Dec 14, 2007 | Reply
A growing economy means that more jobs are being created - including jobs for unskilled workers. However, you may need to get some training, you might need to move, you might need to take a chance.
Would you rather have the economy shrink?
The stock market probably doesn’t affect your life a whole lot. Why do you ask?
By Minimum Wage on Dec 14, 2007 | Reply
My job has little downside potential and little upside potential, so I can’t see myself benefitting from a growing economy. Since I earn minimum wage and cannot get financial aid, I don’t see myself getting additional training.
I was curious about the stock market impact because I see a lot of people bragging in a rising market and I’m not experiencing any positive effects.
By plonkee on Dec 15, 2007 | Reply
Be careful what you say about the Beeb. They are required by the terms of their charter (effectively law) to be unbiased in their reporting.
And actually if you can’t find a way to make going green good for your business, you haven’t got enough imagination - if BP can do it, anyone can.
By Minimum Wage on Dec 15, 2007 | Reply
Where I live, rents are going through the toof - up 6 percent last year, and projected to rise 7.5 percent this year and an additional 6 percent next year. In my neighborhood, many people are losing their homes.
By Minimum Wage on Dec 15, 2007 | Reply
er, projected to rise 8.5 percent this year
By rocketc on Dec 15, 2007 | Reply
I understand that the Beeb is sworn to neutrality - just as PBS in the United States. However, there is no mistaking their bias. I am more comfortable with people who make thier bias known and then report the news. The reality is that it is impossible not to let one’s bias affect one’s job.
For instance, how much reporting from the BBC have you heard about the other side in the global warming debate? There are some extraordinarily qualified people who question the validity of the theory and whether or not man can change the weather.
I think many “green” ideas have merit, but most are simply cosmetic and political. They don’t really help the environment like carbon credits and ethanol - manufacturing ethanol requires more energy than it creates.
Minimum Wage: move or get another job. You are very good at finding problems and making excuses. Spend one week trying to find solutions.
By rocketc on Dec 15, 2007 | Reply
Plonkee, check out this link:
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=411846&in_page_id=1770
By Minimum Wage on Dec 16, 2007 | Reply
I’ve already moved and gotten another job. Since I am virtually unemployable, all I can get are minimum wage jobs which suck. So I can go from one sucky job to a different sucky job, but my situation never improves.
One thing I learned this time is the value of having a car in affording a person earning opportunities.
Craigslist is full of opportunites to make a few dollars here and there - IF you have a car. Many jobs are located in places you can’t get to without a car, or at times that don’t work if you don’t have a car. (I recently found some great janitor jobs ar Intel, but they were swing shift, and there was no way to get home at night without a car.)
Many office buildings and businesses use janitorial services which require cars: they hire people to service two or three locations in a shift, and you need a car to get from one location to the next.
By rocketc on Dec 16, 2007 | Reply
Move to a warm weather climate and get a bike or scooter. There are very few minimum wage jobs in my area - most start at well over $7 an hour.
You are very good at finding problems, no wonder no one will hire you. Most businesses want someone who looks for solutions.
By Lauren on Dec 19, 2007 | Reply
So you think a Conservative Watch dog group is a better souce than media? Yeah, okay, media outlets are sensationalist and are a royal pain in the behind sometime, but I think they can prove to be a BIT less biased than a conservative watch dog group.
Besides, going green IS good for business. Not the carbon credit BS, but the real infrastructure changes. If not in the short term, in the long haul, these changes will pay for themseles, regardless of the facts behind global warming (which support it, even if the “founder of the Weather Channel disagrees.”)
If you actually want to build a fair unbiased source of information, start with your blog.
By rocketc on Dec 19, 2007 | Reply
Can you refute any of the factual claims made on the list?
I don’t mind using biased sources of information as long as they are upfront about their bias. I have a problem with organizations that claim to be neutral, but really are not. It is possible for biased people to be right about many things. I have a problem with the idea that only unbiased people have a corner on the truth.
I do not claim neutrality, I am a fiscal conservative. Is it then impossible for me to be fair?
Why do you have such strong faith in the legitimacy of “global warming”? The founder of the weather channel seems to be a fairly reliable source. Do you believe that Al Gore and U2 have more qualifications to make broad claims about the environment?
Remember, the same media groups were panicking about the “coming ice age” during the 1970’s. . . Global cooling was all the rage. . .
By rocketc on Dec 19, 2007 | Reply
And another thing:
Did you read the article? There are a whole lot more people quoted than just the founder of the weather channel.
Would you consider the Canada Free Press to be biased or unbiased?
I believe that a news source that is public about it’s bias is more trustworthy than a news source that attempts to hide it’s bias.