Bad News Sells
Illustration★★★★When you read the newspaper or watch TV, remember that bad news sells, and the media is compelled to put a negative spin on everything—even good news. One February the Washington Post ran a headline stating “US Economy Gains, Adds 400,000 Jobs In One Month: Report Spurs Fears.” Most people would consider job growth good news; the Post warned that it could lead to increased interest rates. When job growth slowed down a couple of months later, the New York Times ran a headline stating that the reversal was “Stirring Concern.”
Once, when the dollar was weak, the Wall Street Journal warned that it would drive away foreign investors and threaten our economy. Later, when the dollar became strong, the New York Times cried that rapid growth prevents us from being able to “maintain economic stability in the foreign-exchange market.”
The bottom line is this: you can put a negative spin on anything—even good news. Or you can find something good in any situation—if you look.
The point
The media frames everything negatively because bad news sells; the same economic data gets spun as bad news regardless of whether growth or slowdown occurs.