Economic Recovery Plan Coverage
The 24 Hour TV News Industry Shows Strengths Covering Bailout Fiasco
Most of the time, the 24 hour TV news industry is guilty of overkill. It takes a modest amount of daily news and beats it to death with repetition. Coverage of the economic recovery plan standoff is an exception to this. It is a worthy, changing, breaking news story with implications for everyone.
Stock Market Crash
The fact that stock markets plunged on September 29, 2008 when the House of Representatives voted down President Bush's economic rescue plan shows the magnitude of the impact of this story. It affects nearly every person alive today.
Economic Recovery Plan
Credit markets are the primary victim of the economic bailout impact. No recovery plan means banks are not making loans. No loans means businesses can't expand or even function in some cases. A slower business environment means fewer people are working. Lower employment means less money being spent. That leads to more economic slowdown. It is a mess.
Economic Bailout
The economic rescue plan stalemate also has long term ramifications. Fewer students can get student loans. This impacts countless lives. Fewer people can go to college. The work force gets less educated. Not as many people are qualified for higher paying jobs. Universities must cut back. If something isn't done soon, ripples from the credit crisis could be felt for generations.
24 Hour TV News Industry
The TV news industry is shining in its coverage of the economic recovery plan. It is a difficult story to understand. TV news is providing experts to explain what is going on and why everyone should care. On ordinary news days the so called "experts" comment to a ridiculous degree on stories without relevance. They actually have something to talk about with the economic bailout story.
Anxious Investors
CNN senior business correspondent Ali Velshi has been exceptionally clear in his analysis. Velshi can be domineering and overbearing, but he has been able to clearly explain how the complex financial situation will impact the individual investor. CNBC's Suze Orman is already a trusted face in personal finance. Orman is stepping up and calming fears of the unknown for a paniced public. She is popping up on all the NBC networks and beyond.
World Economy
The world economy is reacting erratically to all this uncertainty. This is another area in which 24 hour TV news is effective. It instantaneously reports the ups and downs of stock markets and carries live news conferences of the President, Treasury Secretary and Chairman of the Federal Reserve. When they talk the markets react. Viewers can watch it all happen live.
Economic Rescue Plan
24 hour TV news is in a tough situation. On normal news days they must fill 24 hours with news stories even if nothing is going on. However, it legitimizes its worth when there is a big, developing story like a war, presidential election or major natural disaster. The economic rescue plan could be the biggest story of all. It impacts nearly every person on Earth and will affect everyone's quality of life. People are watching and they are paying attention.
Economic Recovery Plan
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