The Show Must Go On
I do not think that media has played into this grim situation. I feel that media has only reported the reality. Media definitely has a responsibility of projecting and reporting the correct facts. Now the situation in the home market was so bad that the media had to inform the common man of the turns that the economy was taking. Some say that media should have warned the common man before things went wrong. But I feel that even if the warnings had been frequent and at an early stage, there are doubts whether people would have believed or heeded the advice. Few heed to advice when the going is good even if it is on the wrong path.
Even the recent headline that "OPEC cuts production but Oil prices still dips" reflects the current economic scenario aptly.
Recently Japan has had headlines about SONY corporation too which also reflect the current crisis not only for Japan but for the entire world. I do not think media had anything to do with the slowing of sales of SONY or for that matter the rate of Yen to US$ becoming 94.
Though I am not a financial analyst and would not like to depress anybody, I feel that a massive damage has been done to the global economic system and will take a long time to repair the same. With one bad news following another every week, it appears that the global recession is accelerating rather than ebbing.
This brings us to think the following -
・Is media reporting too negative regarding the financial crisis?
・Is media accelerating the global recession?
・Had the media taken the advisor`s role initially would it have made a difference vis-à-vis would the investors or the common man listened to the media then?
In the final analysis all we can do while reading and viewing the disaster is to continue with our work ....... as the media saying goes ........."The Show Must Go On" .
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