A local business publication conducted a panel discussion about the economy last night.  They assembled a panel of economic experts to give the attendees a perspective on the economy.

Here’s the news flash.  It didn’t sound as bad as the newspapers make it out to be.  The experts expect the recovery to start in the third quarter of 2009 and continue into 2010.  They went on to say that the Midwest is in far better shape than either of the coasts.  Iowa’s unemployment is 4.3%.  Certainly we’ve lost some jobs, but the housing boom didn’t hit us and the housing bust hasn’t really hit us.

So why do the newspapers, and all media for that matter report such dire news on a continuing basis?  Well, if you think about it, the Des Moines Register has laid off people, the Minneapolis Tribune has filed for bankruptcy, the Chicago Tribune is in big trouble as is the New York Times.  Maybe subconsciously they don’t want to feel alone in their misery.

And it’s working.  I spoke with an architect friend who said that he had a couple of major projects on hold because his client said they thought going forward would look bad.  Look bad?  A successful company being successful looks bad?  Wouldn’t their customers be more confident in the stability of the company to see them building and expanding?  Wouldn’t their customers feel better about doing business with them because they were successful?

There is good news in the economy.  IBM’s earnings are up 12% without resorting to layoffs, downsizing or government bailouts.  Just running a company well.  And they are not apologizing for their success.

Warren Buffet says this is a “fear based economic climate.”  Who created the fear?  The media? The politicians?  Who?

My advice to the media to increase ad revenues is simple, publish the positive economic news too.  If confidence increases, maybe marketers will see clear to invest in their companies and advertise in your medium.

My advice to marketers is don’t believe all the hype.  Do business.  Invest.  Grab share.  And don’t under any circumstances be embarrassed about your success and  worry about what people will think.  They’ll think you have outsmarted everybody else.