Vapid, Pointless Reporting


Articles like this make me furious. Helen Cooper and Charlie Savage should be ashamed of themselves. They had a golden opportunity to write about and explore the many important and correct Cassandras of the last few years, notably Nouriel Roubini, Barry Ritholz and others (like, erm, Stirling and Numerian's work at The Agonist?). Remember: these were all people who were right about everything. They saw what was coming and what was happening and had the courage to speak up when no one else dared!

Instead they chose to focus on the gloating going on by the neo-anarchists at the IMF/World Bank meetings this weekend. Instead of focusing on real ideas, real change, real substantive criticisms of the global order created by the folks arriving at the meetings, instead of focusing on key people who might be apart of a new sensible economic consensus, or at the very least new ideas, they chose instead to write about "free market protesters dressed like Teenage Mutant Ninja Turtles" who "kick up a ruckus in a tiny triangular patch" some ways away from the critical meetings going on.

This is just irresponsible journalism at its worst. Instead of focusing on Code Pink (although their goal is laudable) why not focus and write about people who are outside the establishment that are responsible critics of the establishment? Instead, we get vapid reporting of those outside the establishment that is nothing less than a reconfirmation that anyone who isn't a part of the club is a DFH, doesn't know what they are talking about, or, horror or horros, are wannabe 60s radicals and that no real, responsible criticism of the establishment is possible because this is who they are!

Rubbish. Absolute and utter rubbish. Stirling's correct. This ain't the big one. As long as we continue to see reporting like this, reporting on 'carnival-like atmospheres' that confirms people's preconceived notions that "no one could have forseen this except a bunch of loony hippie wannabes who don't really understand the issues anyway" nothing will change in our media, our politics or our finances. Truly, truly depressing.


Sean Paul Kelley October 11, 2008 - 4:28am

The further up the ladder you are, the more dependent on the ladder you are. It's only after the ladder has well and truly fallen that attention is paid to its flaws and how to do better the next time. We are close to that point, but not there yet.

As for those waiting on the dead cat bounce to make a few dollars, these things seem to be happening in the course of hours and maybe days, not weeks and months. The bottom is going to drop out of earnings rapidly.

brodix October 11, 2008 - 6:59am

the dollar will start to fall after the updraft from the deleveraging starts to slow, so that would be time to buy some safe stocks and sell treasuries.

brodix October 11, 2008 - 7:03am

The media always chooses the worst spokesperson for the opposition, like having Woody Harrilson(?) argue for industrial hemp when he's obviously bezooted to the point of incoherence. Make the opposition look like fools and it dissolves.

Lex October 11, 2008 - 11:28am

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