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I wonder whether having the media doomplay every crisis is part of the confounding or resorbing forces. Are they making it worse by persuading everyone that the

I wonder whether having the media doomplay every crisis is part of the confounding or resorbing forces. Are they making it worse by persuading everyone that there is a crisis and that they should stop investing? Or are they helping decision makers anticipate and therefore smoothen the blow? I mean, the 2008 they talked so much about was way smoother than the 1995-1998 crisis, where managers were taken hostage in France in dozens of manufactures, where the Five Dragons fell in Asia and where Boris Yeltsin’s Russia came to an end? The 1998 Russia crisis is particularly interesting: - Russia was put under FMI (IMF) leadership with huge monetary injection, - Financial games made that this money didn’t help the populace but only helped to create a new billionaire class in Russia. - We have a dozen thousand Russian multimillionaires here on the French Côte d’Azur (Nice) coming from that period; and the other half of the oligarchs created the Putin regime. Talk about a grave crisis, Ukraine is a ripple effect of the IMF stuffup.

paulpauper 5y ago
It's for clicks, ad revenue, page views etc. Doom and gloom sells.
toyg 5y ago
> having the media doomplay every crisis is part of the confounding or resorbing forces Capitalist economy is fundamentally predicated on confidence cycles, so anything hitting that confidence will inevitably speed up the coming of the next downturn. However, the downturn would eventually come anyway. > the 2008 they talked so much about was way smoother than the 1995-1998 crisis That really depended on where you were and a bunch of other factors. Entire neighbourhoods in the US were gutted by repossessions, in London we had meaningless riots, in the arts sector they saw budgets slashed, etc etc. > Ukraine is a ripple effect of the IMF stuffup. Undoubtedly. Also of the post-2001 US doctrine on the use of force in international relations. And a bunch of other things. Nothing ever happens just because somebody woke up that day feeling like starting a war.

paulpauper 5y ago

It's for clicks, ad revenue, page views etc. Doom and gloom sells.

toyg 5y ago

> having the media doomplay every crisis is part of the confounding or resorbing forces Capitalist economy is fundamentally predicated on confidence cycles, so anything hitting that confidence will inevitably speed up the coming of the next downturn. However, the downturn would eventually come anyway. > the 2008 they talked so much about was way smoother than the 1995-1998 crisis That really depended on where you were and a bunch of other factors. Entire neighbourhoods in the US were gutted by repossessions, in London we had meaningless riots, in the arts sector they saw budgets slashed, etc etc. > Ukraine is a ripple effect of the IMF stuffup. Undoubtedly. Also of the post-2001 US doctrine on the use of force in international relations. And a bunch of other things. Nothing ever happens just because somebody woke up that day feeling like starting a war.