CBC.ca has a 'your view' thread going asking for people to comment on what influence they think the media is having on the recession.

Surprisingly, only 12 comments.

Most of those would suggest that the media is sensationalizing the issue and therefore is making matters worse.

I would note that the noted alarmist, one S. Harper of 24 Sussex Drive in Ottawa, has said the world faces its greatest economic challenge since the Great Depression -- a big shift from his pre-election messaging.

B. Obama, set to move into the White House in late January, has called the situation a crisis of historic proportions.

And the media are being too negative?!?!

Back when I covered courts in Regina (a depressingly long time ago), any accusations of  "sensationalizing" usually came when I faithfully reported the facts of a sensational case. Reporting the facts does not constitute sensationalism. A media outlet is sensationalizing when it makes something appear more spectacular than the facts would warrant.

Unfortunately, we won't know for years whether the news media's coverage overestimated, underestimated or got the gravity of this current situation just right.

But given the words of those charged with leading us out of this mess, not to mention the empirical evidence of economic troubles, I don't believe the media is overestimating the problem.