Main | Presidential Debate »

U.S. Economy

There are far too many words that have the same pronunciation and different spelling but a huge amount of difference when it comes to meaning. Then there are words that are exactly the same, but what occurred or occurs on that day is a different story. Take for instance, Black Friday. Black Friday to the retail addicted population is the day after Thanksgiving. However, Black Friday is also known as a financial chaos that occurred under the presidential guidance of Ulysses S. Grant. In that year of 1869 the US underwent issues surrounding the buying and selling of gold that was bad for the national economy. Prices rose and stocks declined. To this day in America there have been large amounts of economic growth and decline. As of the present, the U.S. economy is still undergoing its final evolution.

In other terms, the U.S. is in a bad economic situation and this has been apparent for some time. From news sources such as the LA Times, cnn.com, bbc.com, and the local Star Tribune there have been many headlines that pertain to a dwindling economy. However, Americans are told not to fear because when they wake up tomorrow everything will be the same. This news about the economy is not something that will or could potentially affect Americans immediately. But there are significant things that require some immediate sacrifices for the world, government, and the citizens of the U.S.

My observation and assumptions about this particular topic range from three different sources: latimes.com, cnn.com, and bbc.com.

As I was browsing the websites, latimes.com seemed to have some information about the national economic crisis. It was not the biggest headliner on their homepage but it was to the right hand column of the website. However, cnn.com and bbc.com had headline information about the bailout plan. In terms of covering the information pertaining to this crisis, it is only logical to realize that bbc.com and cnn.com should have a wide array of coverage on this topic. This is apparent because latimes.com is more of a locally news oriented online paper, whereas cnn.com and bbc.com respectively cater to a national and international audience. Although latimes.com is more of a local genre...the information I received from the article was very interesting. I now realize that the stock market plays a huge role in foreign affairs. Not only is Wall Street something Americans pay attention to, it is also a way for foreign countries to get involved in international business that ultimately hinders the American economy but increases their rising electronic, scientific, and economic regime.

In terms of solid facts I believe all three of these sources shared very important information that had to have come from accurate statistical and accountable sources. As for bias in the reporting, that was not apparent to me. The only form I could potentially see was in the bbc.com article. – The article talked about Senator Obama’s and Senator McCain’s opinion on the bailout plan. Of course Democratic and Republican viewpoints are very different but since this is such a delicate issue that will be played out in the years to come this is something that is an important topic in the rest of their campaigning days.

As for the reporting within these articles I thought it was very straightforward and informational. I did not feel like I had to do any outside research in order for me to understand such things as, ‘Morgan Stanley’ or who Henry Paulson is. Overall I liked the articles I chose to read. It may sound bias but in my opinion I really like the bbc.com article the best because it is more of an international perspective and really talked about arrange of different topics correlating with their main topic.-Whereas ccn.com and latimes.com followed more deeply on one topic.

The three article links are as listed:

http://www.latimes.com/business/la-fi-markets23-2008sep23,0,5079556.story

http://money.cnn.com/2008/09/22/news/economy/bailout_proposal_Monday/index.htm?cnn=yes

http://news.bbc.co.uk/2/hi/business/7629823.stm