doom and gloom
I heard on the radio yesterday that "unemployment is up, over and above previous forecasts". In the paper last week was a "downturn on the way" headline and there's not a day goes by that there is a report of the continuing "housing slump."
The fact was that unemployment was indeed up to 3.7% when predictions forcecasted 3.6%. A difference of 0.1% and hardly a significant deviation for that sort of headline. The downturn was in fact a projected downturn and the housing "slump" was actually just a levelling off a housing prices and sales - which means the media finally had to stop bleating about the housing market being a runaway train.
My point is that nothing much happens here in New Zealand (thats how we like it) which makes it hard for journalists to win positions on the front pages. Consequently there seems to be a blanket practice of extrapolating the most shocking and scare-mongering of headlines from even the most trivial facts.
When reading the headlines you think to yourself "Shit, that sounds serious" but tucked away in paragraph 6 is the bare truth without the "wannabe ladder-climbing journo spin". From then on you think "Well, in context thats not as bad as they made out." Its probably then that I stop reading. Its ruining the media's own credibilty.
Some things are true. Fuel is expensive, dairy products have climbed in price. There was/is a drought in Australia. Biofuel is using corn. But the graphic I saw in the Herald that showed all these things linked as symptoms to every other ailment of the economy was just bullshit. Most people who saw that would have come way with "Well, thats it then: we're officially fucked!"
Come on, you media tossers. Don't you see that the more airtime or column inches you devote to peddling doom and gloom the greater the pessimism of Joe Public and actually, ITS NOT THAT FUCKING BAD.
The fact was that unemployment was indeed up to 3.7% when predictions forcecasted 3.6%. A difference of 0.1% and hardly a significant deviation for that sort of headline. The downturn was in fact a projected downturn and the housing "slump" was actually just a levelling off a housing prices and sales - which means the media finally had to stop bleating about the housing market being a runaway train.
My point is that nothing much happens here in New Zealand (thats how we like it) which makes it hard for journalists to win positions on the front pages. Consequently there seems to be a blanket practice of extrapolating the most shocking and scare-mongering of headlines from even the most trivial facts.
When reading the headlines you think to yourself "Shit, that sounds serious" but tucked away in paragraph 6 is the bare truth without the "wannabe ladder-climbing journo spin". From then on you think "Well, in context thats not as bad as they made out." Its probably then that I stop reading. Its ruining the media's own credibilty.
Some things are true. Fuel is expensive, dairy products have climbed in price. There was/is a drought in Australia. Biofuel is using corn. But the graphic I saw in the Herald that showed all these things linked as symptoms to every other ailment of the economy was just bullshit. Most people who saw that would have come way with "Well, thats it then: we're officially fucked!"
Come on, you media tossers. Don't you see that the more airtime or column inches you devote to peddling doom and gloom the greater the pessimism of Joe Public and actually, ITS NOT THAT FUCKING BAD.
posted by Phil at 5:26 pm
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