Mass Hysteria, The Financial Crisis

Living in new zealand may seem far away from the current financial crisis that is affecting the world.

but still in this island i live on, people are losing jobs, prices are spiking high, and the general mood of the country is not good.

I have been thinking of this predicament lately, and have relaized something, the media could very well be to blame for this.

think of it this way, if the media had said "major banks and financial companys go bankrupt"instead of "eveyone is gonna lose thier jobs, so hold tyour money or you will beocmes homeless" things may have been different.

now I know that wasnt The NZ medias exact words, but they pretty much sum it up.

think of this, when the media tell everyone to hold their money, what happens? everyone holds their money, they pause their finacial life, because of what theyve been told. and that causes businessess to lose sales, and customers, becuase peoplea are scared of losing thier money.

so in effect i think the worst of this finacial crisis has been caused by hysteria.

Mass hysteria? You obviously live in an area that is less affected than, say, the midwest of the USA. Millions of jobs are being lost, causing people to stop spending, which is hurting business, who then lay off more workers. The hysteria isn't helping, but it certainly isn't the cause. The cause was shady banking practices compounded by gullible people. Hysteria is an effect, not a cause.

No there really are / were fundamental problems with the banking system. duxup

Did you guys know GM went benkrupt? I saw it on the news, and it kinda shocked me. Don't they own like all of the car companies in US?

Did you guys know GM went benkrupt? I saw it on the news, and it kinda shocked me. Don't they own like all of the car companies in US?

XanderKage

[QUOTE="duxup"]No there really are / were fundamental problems with the banking system. chris_yz80

yes those are very good points, and as i stated i live in new zealand. my statement was more pointed at the way the newzealand media were portraying the crisis, really new zealand should not be affected as much as it has been, i think the problem in new zealand, is that the media are, and have been saying that everything has to do with the financial crisis, for example, the nz media have stated that our postal system's decline in the last 5 years is due to the financial crisis, well, 5 years ago it wasnt a big issue, and email was gradually taking it over. all i mean to say is that the media are making this hard time even worseth_0_mm

No i feel the same way, in Aus the medias like financial crisis...end of world...everyones screwed, even though this isnt the case. I actually think that the media has a lot of control over the goevernment these days not directly but with the way they give us the news its almost as if its made to seem neutral but is actually biased.

Actually im doing the great depression in school today, and while there were many resons for that, most of those are exactly the same in today's times. are we gona have a second Depression??? the aus government is currently trying to do another one of the main plans for combating the depression in the 1930s. So far its not good../