Saturday, November 8, 2008

News of the world

On the news last night they were going on about how the banks had given in to public pressure and followed the bank of England in dropping their rates. At first glances this seems a reasonable statement, but in reality it’s the media putting a spin on the news to make them seem more important. Let’s look at it again, but in detail.
The banks have changed their rates in around 10 working hours of the bank of England making one of the most startling rate changes in history.
As it takes days to gauge public opinion from surveys, polls and focus groups, the public pressure they referred to must have been that reported in the media. So the public pressure is the handful of people chosen by the news companies to reflect their slant on the story and in a kind of self for filling prophesise the banks have now changed their rates and the news companies can point to their public pressure as the cause.
If it was not for the media in the first place most of the damage done to the world economy would have been averted, how would anyone have known or being bothered that people were having trouble paying their mortgages in the USA, confidence would have remained high in our banks and we would have all carried on as normal. But the news companies need news and if there is none they make some, only this time they have got a lot more than they would have wished for.




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4 comments:

aims said...

I just received this right before I read your post....enjoy....

If you had purchased $1000 of shares in Delta Airlines one year ago you
will have $40.00 Today.
If you had purchased $1000 of shares at AIG one year ago you would have
$33.00 today
If you had purchased $1000 of Lehman Brothers one year ago today you
will have $00.00 Today.
But, if you had purchased $1000,00 of beer one year ago today and drank
all the beer, then turned in all of the aluminum cans for a recycling
refund you will have received $114.00.
Based on the above the best current investment plan is to drink heavily
and recycle. It is called the 401Keg A recent study found out that the
average American walks about 900 miles a year. Another study found that
Americans drink ,on average, 22 gallons of alcohol a year. That means on
average Americans get about 41 miles to the gallon.

Michaela said...

Oh propaganda. Sometimes I hate the media...oh wait, I do all the time!

This is a good time to invest though. I'm pretty young, but I'm investing.

Princess Pointful said...

Bluest sky I ever did see...

The Giraffe Head Tree said...

I used to be program director of a television station. Not on the news side but would always volunteer during elections, emergencies, and so forth. The news reporters and news managers in our medium sized market were some of the best ever, but it was the station's managers who would make them compromise their integrity and even ethics sometimes so the station would bring in more money and eyeballs. What bleeds truly leads. It's all about ratings and money and the media's gotten so fractured with all the sources out there that they have to trot out anything that'll catch attention. I was once told to NEVER use the word "Quality" again in my arguments. I grew to hate the business. Loved the people I worked with but the business turned very ugly. To this very day I can't stand to watch local news.

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