77% of Americans believe that the media’s reporting is making the economic situation in this country worse. The percentage is the same for men and women and virtually constant across income demographics.
The US survey of 1000 adults was conducted by Opinion Research Corporation and is statistically representative of the total U.S. population. The survey question: “Do you think the financial press is making the economic crisis worse by projecting fear into people’s minds?” While the overall response indicated that 77% of Americans answered YES, here are highlights of note: Household Incomes: $25k – $35k — 79% answered YES $35k – $50k — 88% answered YES $50k – $75k — 76% answered YES $75k – more — 78% answered YES Demographics: 85% of young adults (18-24 yrs old) answered YES 77% of males and females alike answered YES 65% of blacks answered YES
The relentless barrage of doom and gloom certainly has to have an effect on people. Even if they personally don’t feel any economic pain, they change their behaviors based on what they are hearing, over and over, from the media. It becomes a self-fulfilling prophecy.
The media malpractice in reporting on the economy is nothing new, of course. For years they reported on the “dismal” 5% unemployment rate for much of Bush’s presidency. I fully expect them to turn around and fawn over a higher rate once Obama is in office.