Media coverage of the economy in recent months should make journalists wonder what kind of job they're doing, according to Business & Media Institute Vice President Dan Gainor.
"‘If it bleeds it leads' has always been one theory. That only works up to a point," Gainor told Fox Business Network host Neil Cavuto June 2. "When you are actually spinning the results so much so that they're more negative than the worst economic time period in American history, well then you really have to sit back and think, ‘Maybe we're just doing this wrong.'"
Gainor compared media coverage of the recent Bear Stearns buyout, a major event in the recent economic slowdown, to coverage of the stock market crash that kicked off the Great Depression.
"The media coverage [of] Bear Stearns [was] more than four times more negative than when the stock market lost 30 percent in six days," Gainor said, referring to findings published in a new BMI report, "The Great Media Depression."
"We could just be [in] a slowdown and a lot of the media are hyping recession, but more than 40 times this year on the major networks they've talked about depression," he said. "[T]hey shouldn't be doing as ABC did, talking about an economy, a global financial collapse, economy falling off a cliff or being a ‘house of cards.'"
The new BMI report found that journalists today are making repeated comparisons to the largest economic crisis of modern times, most often contextualizing current conditions with the phrase "not since the Great Depression."
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Why should this surprise...
June 3, 2008 - 11:23 ET by ontheright...any rational person?
The MSM is dedicated to "properly adjusting history" to show the Bush administration in the worst possible light.
Reporting the so-called economic "doom and gloom" (read: lies) is the easiest way to fool the american people and advance their (MSM) agenda.
The american people (in general) are either too busy making a comfortable living, or are too ignorant and/or stupid while sucking on the Govt. udder to question the lies they are being force fed daily.
A load of (you know what)
June 3, 2008 - 11:23 ET by MeanderingFINALLY! This "recession" has hit me hard. A promotion, a new car and to top it all off we're having a baby. Its about time the MSM gets rebuked for their shoddy job of reporting anything accurate of late. While there is some sanity out there I wonder if the other nut-job news broadcasts will say anything about this interveiw. Probably not, unfortunately!
Maaaan I hear you brother !
June 3, 2008 - 11:37 ET by theduck6New f150 supercab, cruising again this fall and still doing improvements to my house. Nope I'm not particularly well off but I haven't done anything stupid financially either. This economy is killing me too!
Not happy with the price of gas but I wasn't peachy standing in those lines under Carter or when gas about doubled under Clinton. I didn't particularly blame them then and I take it in stride now. Prioritize and move on.
Ya think???????????
June 3, 2008 - 12:31 ET by mattmYa think???????????
At least people have HEARD of Bear Stearns...
June 3, 2008 - 12:40 ET by sarcasmoUnlike the subject of this graph, which despite its considerable size has been quite stealthy -- especially when it comes to the TV segment of financial journalism such as Cavuto's show. This is one of those impending scandals it's "ok" for readers to know, but apparently it's not suitable for TV watchers. I don't get it.
JMR
The tax & spend drug war looks racist in the real world.
THE DRIVE BY MEDIA...
June 3, 2008 - 13:34 ET by danybhoyGainor is right about the tone of the news we see reported by the MSM, it's almost always negative when it comes to economic news. But this points to a larger problem, which is in a word, BIAS.
When you watch how the MSM covers elections for example, you notice how most of the big stories are not covered by the MSM, but by the NEW MEDIA? Who blows up Dan Rather's attempt to rig the 2004 election with his fake document about Bush's Natl. Guard records? Who gave a platform to those who had a different version of what John Kerry did in Vietnam compaired to what the MSM spin was? Who told you about Trinity United, Rev J. Wright, & the hate speech that eventually forced Obama out of the church??? Do you need a hint?
The New Media, talk radio, writers, bloggers, & cable news. The combo of those 3 have merged when you think about it. You see Hannity, Beck, Ingraham, on TV all the time. You also see people like Coulter, Malkin, Buchanan, Horowitz, Goldberg, Boortz, & even Levin when he wants to, on TV to explain to the people what is going on.
Gainor is right about what he says, but it is just 1 part of a larger story. The MSM really needs & overhaul, & as long as the gov't does'nt kill off talk radio & the internet via regulation, the crap will die off, like the newspapers are doing right now.
"...it's still We The People, Right?" Megadeth
Note to media morons
June 3, 2008 - 17:04 ET by SlicksterThe truth will set you free ( boost ratings and credibility)
Mr. Gainor's great work got
June 3, 2008 - 17:43 ET by bigtimerMr. Gainor's great work got mentioned on Rush today too...
"Never murder your opponent when he is committing suicide." ~ W. Churchill