Media Frenzy
It’s long been known that, in the media, “bad news is good news”, and it’s even more true in the highly connected, instant news environment that exists today. We can watch low-speed car chases in California, houses burning down in Oregon, and dog rescues on ice ponds in Minnesota… in living color AS IT HAPPENS. Technology has allowed us to “be there” as never before. How thrilling!
On “slow news” days, regular events are trumped up and even minor events become major news. So, it is to be expected that meaningful news… that is, legitimate information… will be overplayed in an attempt to whip the public into a frenzy. An excited public is an interested public… and that’s good for ratings, right?
All too often, unfortunately, “pumping” will lead to a misunderstanding of the subject matter. People will get excited unnecessarily. If it’s just about the next blockbuster movie, no harm done. If it’s about something of substance, however, great harm can be done. I think the whole “global warming” hysteria is an excellent example of this but it’s not the only one. This happens all the time.
Take the economy. It’s affects everyone and we’re more interested than ever… but the level of ignorance (read: uneducated) is quite high… it IS a complex topic. So, people will believe things that are not true, or assume things that don’t logically extend from the current circumstances, or simply jump on the bandwagon to be a part of the crowd (unwittingly compounding the problem). Don’t misunderstand, there ARE times when we should become very concerned about the facts that are being reported… but the seriousness of “facts” presented by the media should almost always be filtered: the media has a record of reporting incorrect “facts” as well as intentionally or unintentionally distorting or misinterpreting those facts. If it is something that matters, we should always verify the facts or risk being the puppets of the media.
Today, for example, the news if full of talk about the high U.S. unemployment rate and concern that our economy is in a recession. As always, we should be aware of how our economy is performing and take positive action to help it thrive. However, we should all recognize that the economy, like the weather, is highly dynamic… it is constantly changing… so it’s important to view detailed events in a larger perspective. Today’s news is focused on current 5.1% unemployment rate… it has just crept up a bit and now is in the center of the media radar.
But what does a small increase in unemployment really mean? Is it good or is it bad or is it just a natural part of a cycle? Well, this is one of those statistics where, generally speaking, “lower is better” but there is some level that will always exist… and it won’t ever reach zero.
While some people do lose their jobs and honestly want to work but have yet to find another job, some have left the workplace by choice, others are simply in a natural transition from one job to the next with an interval in between, some are actually going into business for themselves (meaning that particular worker still exists in the real world but counts as a downward tick on the statistical chart), others aren’t working because they are “gaming the system” (taking purposeful advantage of government benefits to the maximum extent possible and will re-enter the workforce when that assistance is exhausted), yet others are part of a natural business cycle (when schools let out for the summer, there is no longer a need for all those bus drivers and… yes… another unemployment statistic), and so on.
OK, but what does 5.1% unemployment really mean? The first step toward understanding things of this type is to view them from a higher level. To get the big picture, let’s look at it compared to what has occurred over the past fifty years:
Source: ftp.bls.gov/pub/special.requests/lf/aat1.txt
So, is 5.1% TERRIBLE? Should we be hoarding food? Is the economy on the verge of collapse? Not compared to the ’70s or ’80s… they would have viewed it as good!
Don’t accept “news” at face value. The media has an agenda and it is your responsibility to determine if you are being told the truth or not. If you find a newspaper, TV network, radio station, magazine, blog, whatever that tells you a lie… odds are they’ll lie to you again. It is one thing to be suckered by a lie once; it is another thing to conned by the same liar repetitively.
If you find a source for information that you have verified “tells it like it is”, then stick with it, as truth-telling is a rare commodity. Trustworthy sources of information, like real friends, are hard to find.
OK… now that you’ve finished reading this: get back to work!
