The world has encountered a financial meltdown of unheard proportions recently. Has Online TV accelerated the financial meltdown? When you consider, the news showing 24 hours per day is eagerly watched by increasingly twitchy shareholders watching every move in the markets.
This can lead to panic selling of investments and drive the markets even further down the plughole. Lately investors have been pulling the plug on any financial or banking shares due to instant news coming straight form television and the Internet websites and news channels.Of course it can be argued that this scenario works both ways, sending markets back up in the event af very rare good news.
A few years back when the technology bubble dramatically burst, television was blamed by some for encouraging the prices of these stocks upwards, even contributing to “irrational exuberance” as described by former Fed Chairman Alan Greenspan.One problem television has had in covering the recent financial meltdown is that so much is changing minute by minute.
Our financial system has undergone a quick, dramatic transformation.TV coverage of live events is always extreme. It makes bad news seem worse and good news euphoric.
Interestingly during the 1930’s stock market crash events happened very slowly due to news travelling much more slowly. Now we have lightning fast, multi platform news hitting us from all sides. Will this make the current crash much more quickly and with much more disasterous consequences.
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