Self-fulfilling Prophecy?

The other day when I was cleaning up some junk off a lunch room table I came across a copy of Investors Business Daily. The headline was touting the serious decline in the market and warning of still further economic struggle. I was really bothered by that. Not because of the headline’s prediction, but because of its promotion.

The biggest problem with the news media is it’s emphasis on bad news. It sells. But it also has a very negative side effect. It siphons off motivation. It drives by fear.

Stop and think about how the promotion of bad economic news is affecting the people and businesses around you. As soon as the media promotes the economic downturn businesses begin laying people off in fear of not being able to make enough money to carry them. People stop spending for fear of not being able to make money in the future. Thus more businesses panic and more people get laid off and more people quit spending and more businesses panic, etc. This creates a whole cycle of self-fulfilling prophecy.

I truly believe that the current economic downward spiral we are witnessing has been caused more by the news media’s promotion of bad news than any other element. I also believe that you can personally extract yourself from it by doing two very important things.

1. Ignore the main stream news media. It’s bad for your emotional health.

Seriously. Who can fill themselves with constant news about murder, war, famine, economic disaster, and corporate scandal and not be affected negatively. I quit reading and watching the news over two years ago, and I’ve benefited greatly from the experience.

If I need to know something, I’ll find out about it. Usually from my friends on Twitter. Much more efficient and a lot less nerve wracking.

2. Focus on opportunity not on the struggle. Add value to what you offer.

Seth Godin talks about this today on his blog. He talks about using your down time to add value to those around you. This is a brilliant idea most people never think about. Instead of panic, take the time to learn something new that you can add to your resume. Explore the possibility of building your own web-based business. Make your current talents available to others who need them.

The main difference between those who merely survived the depression of the 30’s and those who prospered, is that the “prosperers” looked for and acted on opportunity, while everyone else relied on the government or someone else to solve their problems.

You have the ability to learn. You have the ability to think. Use it and prosper even in the worst of economic hard times.

What are you doing, today, to deal with the news of economic hard times? How are you preparing to prosper during 2009? I’d like to hear from you. Share your ideas.

picture by Flickr user paper or plastic? — Creative Commons license

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