Thursday, August 30, 2012

Bad news digging

I posted  a few weeks ago  about the media's role in the mood of depression hanging over Australia.
This in spite of us being one of very few countries which didn't go into recession during the GFC, which has a strong economy, low unemployment, high salaries.
Yet the media goes out of its way to ignore good news while it digs around to find bad news stories.
There's a classic of the kind with the lead story in this morning's Sydney Morning Herald business section.

The report begins by telling us: "AUSTRALIA faces a run on its currency, a deeper collapse in housing prices and a bank funding crisis to rival Europe's as it attempts to come to grips with life after the mining boom"

But then it tells us this is the prediction (ie crystal ball gazing guesswork) of  'a boutique US advisory firm.'

If that isn't digging around to find bad news stories and giving them undue prominence, I don't know what is.

The Sydney Morning Herald story  is here.

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