No I mean it .....stop the press from "scaring America" into a recession. Now there is no doubt that our financial markets are going through a serious "adjustment period" and that new regulations and disciplines are definitely in order. And I am not ‘minimizing" the severity of problems associated with our banking, housing and stock markets. But give me a break! Here are some recent headlines that typify how news agencies no longer just report the news but rather contribute to the uncertainly and panic gripping the nation:
At the time this article was written, here are a few of the headlines:
USA Today - "U.S. Stocks Poised for steep drop"
The Boston Globe - "Economic signs in Mass. point to a recession"
The Wall Street Journal - " New loan fix unlikely the last"
The Philadelphia Inquirer - " Markets brace for stock plunge today"
The Miami Herald - " Credit market sees signs of squeeze again"
Need I continue? When did our news agencies stop reporting the actual news and begin predicting it? And furthermore, at what point did the 6pm weather forecast become critical news from the "Severe weather center" rather than just a weather update report?
We have got to put a stop to the doom and gloom that is promulgated by today's press! The era of sensationalism must end. We must put our financial infrastructure back in order and get back on track. This can only be accomplished through hard work...with a calm and steady hand!
I (for one)... am putting a moratorium on sensational news! Won't you join me!
I welcome your comments.
Ken Eidenmiller, Broker/Trainer
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