They are not always right. Don’t surrender yourself to the network money advice. Due to the economic crisis, the network has cultivated an opening to keep you groomed to your TV set. After election campaign, we switched from political analyst panels to money expert panels.
If you were following news toward the end of last year, you will agree, when it was clear the economy was disintegrating very fast; listening to the network was like watching a horror movie. The network was looming the fear of a monster swallowing and tangling America and world to its mercy. Ok, the economy has been worrisome enough to bring sense and question the judgment and the genius of the Wall Street, and there is no question the network companies are in the business of delivering news. But they also have a social responsibility for delivering news not twisted with the fear in order to appeal to your attention.
We are lucky; we don’t have half of America on soup line. Listening to the network you would have expected we would be in the situation by now. You question the network social responsibility; fear should not be a part of the news. Because network tangles fear with news, public minds are left wondering between facts, truth and opinions.
People listen to brand names. We pay attention to these names and ignore or pay no attention to unbranded names.
The truth is, the 2008 economic stimulus Act illustrate how network can powerful persuade peoples’ actions, some of us bought into the idea advanced by network money experts, don’t spend, pay your debts or save. Was this a good advice for the nation?
Things have unfolded; we have found our self in recession. But for sure, the treasurer was following on wisdom that spending stimulates the economy, by handing the check, the government expected you to spend the money. Together, we would have injected an estimated $ 152 billion in the economy. If you paid debts or saved, you messed up with the government plan and crumbled to the advice of network money panels marauding on prescription against hedged wisdom of treasury.
Some people are opinionated towards political alliance, democrats will always be democrats, and republicans will always be republicans. So, it is likely, if you are persuaded by alliance to political party, you will never buy to your opponent’s argument. Democrats and Republican always disagree on tax issues, but the truth is, there is information misleading castigated by network alignment to either Democrat or Republican philosophy. What you don’t hear, there is no evidence to disapprove or approve the argument of whether lower or higher tax impedes economic growth. In fact, levels of tax do not have longer term impact on GDP (Gross Domestic Product) growth, and countries with high tax rate have almost the same growth rate as countries with low tax rate. Holding taxation out of the equation, Government spending policies affects economic growth.
We have subscribed to the idea that market takes care of itself. But is this true? Probably not, the human behavior plays part on how market reacts. Hence, the lesson that market takes care of itself is disappearing out of network. While prosperity was shinning on the Wall Street, experts were drawing news on why we should be jumping into the market. When things turned sow, then, the message was to hold and not walk a way while market continued plugging down. Those who paid attention to network persuasion plugged lower than those who ignored the network call of the market will take care of it.
When an orange drops, off course, the law of gravity states it will drop to the ground. The prediction is precise; the fruit has to drop down. But this is not the case with the economy; the future does not hold the way we expect. During the house market bubble, we were dominated by prosperity news of why we should own a house. We were made to belief housing market will always adjust upward; a new principle was developed a advocating for cashing on house equity and paying credit card debts or investing in the stock market. This sounded like a good deal in a low interest environment which had a housing market adjusting upward. What was never given enough weight was the wisdom of people who were questioning the overbuilding of houses and the ability of the market to absolve the over supply. Consciously or unconsciously, network has advanced the sale pitch of Wall Street by disbursing news leaned on one side of prosperity against precautions of risk avoidance.
Relying only on network news means you will be less informed. People who don’t pursue different channels to gather information are likely to be persuaded to belief everything they hear. This is risky when making decisions. Don’t take fully what you hear to be gospel, our world is unpredictable and financial planning requires precaution when making decisions, also be well informed when switching strategies. As economic crisis fades a way and new events take place, money panels will disappear and new ones will be formulated, hence what we hear today can be window dressed to increase network rating.
In a sore economy, we are yet to hear money experts apologizing to the consumers they mislead. What is news is the action of the day and once the action fades a way it is no longer news anymore. Because news fades a way and we tend to forget, verifying what we hear today will be a daunting task tomorrow. As the housing bubble was the action of the day, the same has happened with economic crisis, and as time pass by we will never be able to hold anybody accountable for misleading us.
If you surround your self with negative news you will become more negative. When cash crunch was dominating the news, there were people who were worried to the extent of withdrawing money from banks to be safe with their end of month rent. The fact that Federal Deposit Insurance Corporation (FDIC) is a safety net to majority of us was ignored, the psychology spreading through most consumers mind was the fear of banking system sinking with our funds. The fear originated as a result of network being consumed day in and day out with news of how the economy was disintegrating and how the future was grim. Network yield some power on peoples’ behaviors and influences psychology of market and economy performance. For those royal to the network as a sole source of information, they are endangered to the influence ascertained by network when making their decisions.
We cannot fully rely on network to deliver our news; we will be missing crucial information and arriving at wrong conclusions. To be factual and well informed we have to dedicate time perusing information from other different sources such as print media and surfing the web. It is by searching the truth and facts and through our own consciousness we advances toward balanced news not outweighed by opinions. In this way we are more informed of our actions when mapping our financial destiny.
