This post is not directly related to personal finance. Hey I admit, sometimes, I want to write about other stuff 😉 Seriously, this will still help you out understand what is going on in the business news as we get most of our information (beside when you are reading my blog 😉 hehehe!) from different media.
During our last MBA class in public relationship management, we had the opportunity to spend the afternoon with an experience journalist that came to talk to us about how they think, how they write and how to react in front of it.
Let me ask you this question: “If you are in a middle of an article and you realize that the news you are about to publish will jeopardize the future of a project creating thousands of jobs for a small region (due to the fact that the project is not far enough into conception before going public), would you still publish it?”.
Well, most journalists would apparently do it because they have to preserve press liberty at all cost. Interesting isn’t?
The very same journalist told me that we are talking and talking and talking about the terrible, never seen before, unique and catastrophic economic crisis like this because we didn’t have anything else to write about. There are not many wars or catastrophes these days so they can at least use the good old bear market as the next step of the world’s end.
This is when I start thinking about what I was reading only 2 years ago. “the oil barrel will reach $200 by 2009”, “Gold will break the 1,000$ stage and can reach up $2,000 very soon”, “TSX will get to 15,000 points before the next correction”.
The funny thing is that it wasn’t just headlines. Several journalists, backed by over intelligent expert, were justifying every single great headlines. 2 years ago, I could have probably give you 25 good and logic reasons why the oil barrel will reach $200 anytime soon. Today, I can find the very same 25 reasons why the oil barrel will stay at $35… Can we really consider this as information? It is so convincing and so empty at the same time I wonder who to believe?
So the question is the following: “should we listen to specialist, expert and journalist now that they are telling us that the end of the world is near?”
Unfortunately, I don’t have the answer to this question. However, after meeting with this guy, I really wonder if journalists are writing to report news or simply to make a living and give us an interesting show?
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