The economy: Localize the biggest story of your generation
September 19, 2008 in College Media
Image via WikipediaI don’t often post about particular story ideas, because that’s a fertile ground elsewhere. But college students who haven’t been paying attention to the economic news (are there many who do?) over the last week or so need to be put in the loop. The collapse of the financial markets and the subsequent socialization of two giant mortgage firms and an insurance firm, along with a new government-backed bailout, is HUGE news for people who are just entering the workforce. It is the biggest story of your generation so far (arguably bigger than the Iraq war, even). #
This economic crisis is going to cost the taxpayers of the United States billions of dollars and result in untold hardships. #
It will be interesting to see who can cover this story adequately. Most every campus has highly trained economics professors. Who can make the topic understandable to students? #
And I’m not talking editorials and columns. I mean straight business reporting. Check out this Iowa State Daily article for a sample of how someone is doing it in a hard-news way. Also, this from the Utah Chronicle, and this from the Florida Alligator. But so far all of these stories focus on the immediate impact on students: jobs. There are much larger issues (like the fact that the U.S. taxpayer basically bought A.I.G., adding to a huge national debt that will have to be paid by working stiffs like you and your children and your children’s children’s children.) #
And as much as such stories (see this UWire search for a sample of related content over the past week) are important, graphics and rich content are also important to help students understand just what’s at stake. Here’s a sample of an explanatory graphic (really simple, actually) from the NY Times. #
For a sample of how the story can be told in another format, I recommend This American Life’s “The Giant Pool of Money” to explain the mortgage crisis. #
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[...] couple of weeks ago, I wrote a post encouraging students to localize the story of our economic situation. With the stock market still free-falling this week after a $700 BILLION [...]
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Students need to pay more attention because this is going to directly affect them.
I am one of those student who dont keep track, but recently due to the financial crisis I have been keeping track of the economical news as there have been some big news as you have mentioned. Thanks for this post anyways you had some stuff which I did not know.. Will pass this on in my college.
This is a huge story, and I believe the only way to tell it is going to be in the history books of the future. Like the crash of 1929, people have been writing actively ever since; or for that matter the Tulip bubble mania of 17th century Holland. Such economical cataclysms defy the comprehension and it takes time to gather all facts. For example, we do not yet know the impact on the Orient. Japan seems to have taken a big slap on the face while China still smiles. Can it last?
[...] surfed a ton of college media websites looking for innovative ways these journalists were telling the biggest story of their generation. And I’ve mostly come up [...]
Great point, Bryan.. Thanks for this very interesting article. I was unaware of KaChing but my sentiments about the need for more Karls Mortgage Calculator reason and responsibility when it comes to the stock market are closely aligned with yours.
[...] We will often use this portion of the LOI to Karls Mortgage Calculator request documentation regarding the performance of the property, such as financials or other items [...]
I have said it many times: banks have ruined the economy. Instead of using a <a rel="follow" href="http://www.mortgagecalculatorplus.com/" rel="nofollow">mortgage calculator when offering mortgage loans, they used the "if the client looks trustwothy and of he has puppy eyes" technique which as you can see, worked very well:))) the economy is ruined.
Now that we are experiencing economic crisis, we must be aware on the happenings in our society. This news is not surprising.. I hope that this recession will be gone soon, very soon..
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I have said it many times: banks have ruined the economy. Instead of using a mortgage calculator when offering mortgage loans, they used the "if the client looks trustwothy and of he has puppy eyes" technique which as you can see, worked very well:))) the economy is ruined. ______________________________________________________credit card merchant services