Anyone Else Avoiding the Financial Media?

[daughter of pearl]

So I made the mistake over the weekend of watching some report on the global economy and the situation in Europe.

Then I worried myself silly!!

I think the way the media reports this stuff is so fear-mongering that it can be dangerous for me to listen to, because it makes me feel like there is no point trying to reduce my debt, or that the situation is so big and pervasive that I can't possible win, or change it.

So I am on a break from listening to anything that talks about "the economy" or "the recession" (excluding DR of course!)

Anyone else feel this way?

[frugalfranny]

No, gotta admit I am somewhat of a news junkie.

But knowing that: "the media reports this stuff is so fear-mongering" I listen with a guarded ear. It is true to a point and I would rather know what is going on than be blindsided.

Besides it makes me more cautious when I think about making a big purchase or big move on something.

We are now living in a world where things in Europe can really affect us and how do we know what is going on without the news? If the China housing bubble bursts......should we care?....we SHOULD since they are our biggest lender. We could be in for 'round two' if it happens. Do I lose sleep over it? No!.....but I watch and listen and try to plan my life accordingly......WITHIN REASON!

[monkeywrangler71]

Financial news is the only news I keep up with, but I get it from reading the morning market commentary put out by my broker, not the news media. IMO the news media is only interested in sensationalizing, not informing.

Market report looks positive this week. I am not concerned at this point.

[Libby]

I only watch news once a week unless its happy fluff news. Anything big I will read online or on the cover pages of local papers. As for the economy - I watch it to get an idea of whats going on but do I listen to the self-proclaimed experts? No. I agree that the news only sensationalizes or evokes fear mongering and nothing good comes as a result. Watch it to be in the know but don't put all your eggs into one basket.

[Dutchie]

The financial news in Europe is bad at the moment because of the Greek crisis and it *could* bring about an even worse crisis than we have already had. I too said to dh just Sunday that I had a bad feeling about this, he agreed with me. My eldest son who studied economics also agreed that this was bad but it could get worse because the 'PIGS' countries could all fall if not helped. (PIGS = Portugal, Italy or Ireland, Greece and Spain.) This was before the emergency fund was set up.

The various countries in the Euro zone have firstly given a loan to Greece of around $145 billion which should help them out plus there has been a summit of all Euro countries which has resulted in an emergency fund of € 720 billion being set up for anything like this in the future.
Holland I believe had to pay around € 5 billion for the Greeks which we *should* get back. Personally I wouldn't want to hold my breath waiting for it.

There has been a LOT of negative comments all over Europe among the 'ordinary' citizens about the Greeks getting this money but it had to be done because if it hadn't then the country would have gone bankrupt and then all of the investments done there by worldwide investors would have disappeared.
The bailout of Greece which we jointly paid will result in an even higher defecit than we already had and it doesn't take a genius to know who will be paying it - the people.

[Palooka]

I always have the World news on. Yeah, crazy about the Greece riots.

I like to know what's going on but I don't worry about it.

[frugalwarrior2]

Actually,somehow my financial global awareness gene finally activated. As i paydown debt,save BEF,get kids thru school on cash, and monitor my stockpile I am more interested. I love watching "eye on the world" shows.

[shoiji]

I do try to keep up with what is going on. Especially with state news - since everything feels like it is going south right now. But I do limit myself on what I read or hear. I just figure the more I am aware of what is going on the better I can plan and save for the really bad year ahead. Right now I am looking at possibly paying a $300 prescription deductible come January. I get Social Security, uhhh, it isn't as if I have a whole bunch of extra money lying around.

[dcompton]

I used to listen to it far more than I do now. I certainly followed it when everything starting collapsing here. Now I seldom do, but glance at the headlines on AOL when I check e-mail, and pursue anything that seems significant.

What I really ignore now is health news. Blah blah blah. Any exciting new study today will be contradicted sooner or later, usually sooner. I just try to be sensible and can research anything I really need to know.

[MakeADollarHollar]

News Junkie here. I feel in my heart of hearts that now is definitely not the time to be ignoring it but actually paying *more* attention to it. The more aware we (my family) are and knowledgeable about all the possible outcomes the better prepared we will be.

Don't *worry* about things but take the approach of *what if* and plan for it. Just in case.

[daughter of pearl]

My one comment on things in Greece: I giggled when Germany suggested that they sell them some islands!

Also really glad that the British parliament thing has worked itself out...political instability would be the kiss of death right now...

[Preston]

Other than The Daily Show with Jon Stewart I don't find anything worth my time. Too many pundits. A bunch of blowhards spouting off opinions instead of facts is not news and produces no favorable results. They report the controversy for the sake of ratings but do little to actually inform the public.

I'm going to say I turn off EVERYBODY including Dave Ramsey. I have trouble listening to his radio show since he spends time playing political pundit on a daily basis.

[mndtrp]

I get most of my financial information from different magazines, blogs, and other websites. I get very little from watching the news. I'd rather have the information without all the ratings grabs the news tries to make.

[Vanilla]

I like to get more news/information from different sources/countries & compare notes, especially recently. To me, those news just remind me that 'frugal' is the way to go.

[Dutchie]

I like to get more news/information from different sources/countries & compare notes, especially recently. To me, those news just remind me that 'frugal' is the way to go.

I agree with you!