Time to Think About a Stimulus Co-Package

Recently, everywhere I look there is news and more news on how about the economy is doing.  I constantly read about layoff, company closings, etc.  And I hear about it in all sectors.  If someone doesn't by now know about what's going on, he or she probably just doesn't want to know.

The press is treating the economy just as it does with any other sensational news.  And I understand sensationalism:  Many times in my career, press was going out of their way to hail my company and at times me, myself, and couldn't stop reporting the great subjects.  Nevertheless, as soon as a bit of market momentum was lost, press was all over how bad we were doing - often making it sound like we won't be in business for more than a couple of weeks.  Yes, I have see the quick turn with my own eyes many times.  Needs to say, these negative stories about the companies (even when we were doing much better than OK), leads to loss of key employees and more importantly key customers as they just believe what the read, or at least what they read significantly affects their purchase decisions.

Negative news is destructively self-fulfilling.  It's no surprise that the announcement of layoffs everywhere, doesn't help but encourage companies to invest less in workforce, which leads to lack of productivity, and eventually to more cuts.

I am a big proponent of free press.  I am also a huge proponent of free market (and less/no intervention of government in business).  Nevertheless, I very well see the point of having a stimulus package and how it could help re-vitalize the economy.  At the same time, I believe, if the government is to interfere with free market, it would behoove us all if it could also drive some sort of "management" (and I use that term very carefully) on press.  I do realize that this is very dangerous, but I strongly believe as long as the sensationalism of news is out there, making a recovery would take longer than it could.  Bad news always sells better than good news.

The stimulus package will help the economy.  We now need a disciplined, non-sensationalist press "package"to reinvigorate the recovery itself.  I'm not suggesting to lie or suppress the bad news, I'm just asking not to blow things out of proportions.