I know that bad news sells.  I know that newspapers would go broke if they only reported good news.  (They may all go broke anyway with the advent of the new media)

Why is it that we see banner headlines like “Unemployment up to 6.7%” or  “Foreclosures up 57% in the past Year”?  It seems to me that most people would think 93.3% employment is a sign of a successful economy.  “Foreclosures up 57%” sounds very ominous.  But where did this happen?  Kansas?  Ohio?  Nevada?  The answers indicate just how important it must be to use the extremes to sell papers or TV ads.  The location was Nevada which has the highest percentage of foreclosures in the nation, currently.  The period in question was January 2007 to January 2008, probably the period of highest acceleration of the default rate in history, and, probably the most dramatic change in Nevada ever.  

How hard would it be to have a headline saying “98+% of all U.S. mortgages are not in Default”?

It may be naive of me to think that a 93% employment rate is impressive.  I continue to think that our economic condition will improve in the next year.  I think it will do so because I don’t think everyone believes the gloom and doom.  I think there are plenty of optimists out there who see the current economic dislocation more as an opportunity than a foretelling of the coming doomsday.  Attitude and belief have much to do with success, and, with failure.  I would think the papers and TV networks could continue to sell the coming disaster and at least editorialize with a slant toward the positive.  I guess I really am naive.

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