Is our downfall our media obsession??

[Magnus3x]

Insane the influence saturated media is having on the global economy. Fuel prices and of course the turmoil of the world markets.

Let's take for example the rumor last week that Steve Jobs of Apple, blogs started writing about how he had a heart attack, which was not true. But with all the RSS feeds and blogs populating their content with those feeds instantly and it spread like fire. When it was fact checked as a hoax, the damage was already done, their stock dropped 10%!!

Recession and market crashes get so much attention, the media literally telling you,- the consumer, that you are not going on vacation and you are not buying anything and it seems to be catching on, they only tell you of the gloom.

The business section of my Google reader may as well come with a razor blade with all the economic sky is falling.

True that the world economy is in some serious shit and self inflicted due to all the greed and excess, but would it have mushroomed so quickly if there wasn't so much TV, Newspaper and blog attention given to it?

It just seems way too easy and the scariest word right now is "speculation".