No Stock in the Market...

In the news this week, we have seen the greatest coverage of the stock market since the Great Depression. However, is this preoccupation with the stock market necessary or even interesting for us today? No doubt, we all know someone who has money in the market, but I believe that it is not the job of the media to cover this type of information when there are many other things that could be shown.

In "On The Media" This week, there was a segment run on the coverage of the stock market that presented a number of significant points. First of all, the anchors demonstrated that there is no reason why an increase in the stock market doesn't affect everybody. Most people own little or no stock, and it brings up the issue of whether a rising stock market is good for everyone. On one hand, a rising stock market could indicate an overall increase in wealth across the US. This would be good for everyone. On the other hand, a rising stock market, as pointed out by "On The Media", could show higher profits based on a decrease in wages. This would be good for the shareholders but bad for all the people who have little stock in a market that celebrates their low pay.

All of this leads to the major question on our minds: what does a drop in the market mean? Should the media be covering the market because it demonstrates a trend across the board that affects both workers and shareholders, or would the media be better off covering job losses in the automotive industry or the current minimum wage?

In conclusion, when watching the news, be sure to take everything you hear with a grain of salt and ask yourself "who is this really affecting, and what is this trend portraying?"