Sunday, 26 July 2009

A Quick Update

Just a footnote to my rant in my blog of July 10th about the media and the recession. Yesterday in The Times Patrick Hosking’s article My 20 reasons to be cheerful about the economy is a breathe of fresh air. He looks at the other side of the coin pointing out that ‘economic gloom can be overdone’. The article is now online.

It’s not just the UK taking this view. The American Newsweek published its own story entitled The Recession is Over. Again, the article is now available online.

Both articles sensibly discuss matters from a point of view that being in recovery from recession is not the same as being back to how things were before the recession. A lot of media writers erroneously give the impression that recovery is an overnight process where everything does indeed suddenly and magically go back to how things were. And then the economic fairy godmother goes back to the magic castle.

I'm hoping that this kind of realistic reporting on the economy begins to grow. It is so infrequent that readers can immediately be unsympathetic and critical towards the reporter. Patrick Hosking takes a tongue lashing in the reader's comments section but one reader, Colin Grant, rebuts 'The reader comments are predictably from the Armageddon tendency but Patrick is spot on.'

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