U.S. RECOVERY MIGHT BE REPORTED HERE FIRST
By John B. Mugford
Dear Reader:
We all know there’s truth to the notion that a recession can be a self-fulfilling prophecy. As the economy slows and certain sectors shed jobs, people and businesses spend less, which hurts other sectors as well.
In addition, when a recession hits, some observers believe the media exacerbates the problem by reporting all of the gloom and doom. The daily headlines in newspapers and on television scream of more bad news, which some people believe elevates fear and changes the behavior of consumers and businesses alike.
I don’t necessarily buy into that theory. But I admit that it is difficult for business journalists to avoid writing about the recession, or at least to refrain from referring to it in many of the stories they write or produce.
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