Indexes

Yes, Michelle Obama set some hearts a flutter and generated some headlines when she laid hands on the Queen last week. But most of the coverage of the President’s overseas trip focused on the same challenge he faces at home.

The economic crisis again dominated blogs and social media last week, as the conversation expanded from AIG to several different elements of the financial meltdown. And the most viewed video was an overseas variation on the same theme.

Another aspect of the financial crisis took center stage last week as the storyline moved from the AIG bonuses to Tim Geithner’s plan for “toxic assets” in the financial sector. The verdict is far from final, but Geithner seemed to at least stem a recent run of negative news.

With the AIG bonuses fueling outrage, the economic crisis received more attention from the social media last week than any other topic since PEJ began its NMI two months ago. And the week’s most viewed video was a casting call that turned into a stampede.

Last week, the economic meltdown generated its highest weekly level of coverage since the crisis exploded last fall. And the majority of media attention was focused on a three-letter acronym that became a four-letter word.

Bloggers last week focused on reports and predictions involving major changes to some of the country’s prominent institutions. And their verdict was mixed on whether these potentially dramatic developments were heartening or ominous.

The financial crisis dominated the news for the seventh week in a row as earmarks, bailouts, and talk of a second stimulus package helped fuel the narrative. And with Bernard Madoff heading to jail, greed and excess were recurring themes in the news.

For the fourth week in a row, a different component of the faltering economy drove coverage of a crisis now overshadowing every other news event. And the White House and a radio host locked horns in what may actually be a symbiotic relationship.

Bloggers expressed strong opinions on two topics last week—President Obama and Tropicana orange juice. Evaluations of Obama broke down on ideological grounds while the uproar over Tropicana’s change in packaging was about brand loyalty.

As the White House moved on a number of economic fronts last week, the financial meltdown and Obama’s big speech accounted for nearly half the news agenda. And the media distilled an unmistakable message about the direction of the new administration.