Comments on: The peddlers of recession p-rn http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/ now with extra source Sun, 12 Feb 2012 02:14:27 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Dobther http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9375 Dobther Thu, 01 Jan 1970 10:00:00 +0000 #comment-9375 If this is the quality of your journalism, I think I'll stay a squatter. If this is the quality of your journalism, I think I’ll stay a squatter.

]]> By: Andrew Thompson http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9376 Andrew Thompson Thu, 01 Jan 1970 10:00:00 +0000 #comment-9376 Who is Andrew Peter Thompson? I appear to be missing something ... Who is Andrew Peter Thompson? I appear to be missing something …

]]> By: Claret http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9377 Claret Thu, 01 Jan 1970 10:00:00 +0000 #comment-9377 I can't stand all these self-appointed 'experts'. I moved all my super into cash over 12 months ago on the simple philosophy that what goes up for a few years must eventually come down with a bump as has always happened in the past. I have been to several financial advice seminars over the last few years, as I am nearing retirement, and not one of them said to think about the cash option but merely advised to leave your super in the markets to reap the high returns. Now the downturn has happened they are still saying leave it in the markets or you will miss the recovery when it happens. Why pay enormous fees for 'experts' to tell you to do nothing no matter what the circumstances? People should learn from history not 'experts'. I can’t stand all these self-appointed ‘experts’. I moved all my super into cash over 12 months ago on the simple philosophy that what goes up for a few years must eventually come down with a bump as has always happened in the past. I have been to several financial advice seminars over the last few years, as I am nearing retirement, and not one of them said to think about the cash option but merely advised to leave your super in the markets to reap the high returns. Now the downturn has happened they are still saying leave it in the markets or you will miss the recovery when it happens. Why pay enormous fees for ‘experts’ to tell you to do nothing no matter what the circumstances? People should learn from history not ‘experts’.

]]> By: Wally A. http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9378 Wally A. Thu, 01 Jan 1970 10:00:00 +0000 #comment-9378 When you're buggered you're finished. So clever it aint. Battle on regardless, the world not over yet! When you’re buggered you’re finished. So clever it aint. Battle on regardless, the world not over yet!

]]> By: Timothy.Nash http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9379 Timothy.Nash Thu, 01 Jan 1970 10:00:00 +0000 #comment-9379 I have to disagree with this article. Most of economic data and commentary has not really plunged totally into the gloom and doom. To become an economic manic depressive you need to do it properly. Armageddon, wastelands…a complete meltdown of capitalism! <br />This stuff coming out is fairy floss, how many times to we hear “The domestic economy is set for a comeback in the fourth quarter” <br />Bah! Bollocks! <br /> I have to disagree with this article. Most of economic data and commentary has not really plunged totally into the gloom and doom. To become an economic manic depressive you need to do it properly. Armageddon, wastelands…a complete meltdown of capitalism!
This stuff coming out is fairy floss, how many times to we hear “The domestic economy is set for a comeback in the fourth quarter”
Bah! Bollocks!

]]> By: Andrew Thompson http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9380 Andrew Thompson Thu, 01 Jan 1970 10:00:00 +0000 #comment-9380 Yawn. Bernard's back with another inconsequential, low-brow piece about personalities he can write from the comfort of his keyboard, without being bothered with any of that tedious research and analysis. Those of us who want more had best look elsewhere, like here, for example: http://www.economist.com/opinion/displayStory.cfm?story_id=12932336&source=hptextfeature Yawn. Bernard’s back with another inconsequential, low-brow piece about personalities he can write from the comfort of his keyboard, without being bothered with any of that tedious research and analysis. Those of us who want more had best look elsewhere, like here, for example: http://www.economist.com/opinion/displayStory.cfm?story_id=12932336&source=hptextfeature

]]> By: Darren Holmes http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9381 Darren Holmes Thu, 01 Jan 1970 10:00:00 +0000 #comment-9381 Is it possible that a positive spin could help the economy? Maybe shave even 0.1% off the coming unemployment spike? <br />We reap what we sow. Is it possible that a positive spin could help the economy? Maybe shave even 0.1% off the coming unemployment spike?
We reap what we sow.

]]> By: helen suzman http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9382 helen suzman Thu, 01 Jan 1970 10:00:00 +0000 #comment-9382 Bernard Keane, the Thabo Mbeki of the 08 global recession. My god it's going to hurt like hell when China falters this year (due to falling US demand) and then demand for australian raw materials falls through the floor and we're in the crapper. But it's going to be more embarrassing for crikey, when every blagghhh mainstreak newspaper prophesied this, and the indepndent website didnt, tied as it was to an obsessive columnist Bernard Keane, the Thabo Mbeki of the 08 global recession. My god it’s going to hurt like hell when China falters this year (due to falling US demand) and then demand for australian raw materials falls through the floor and we’re in the crapper. But it’s going to be more embarrassing for crikey, when every blagghhh mainstreak newspaper prophesied this, and the indepndent website didnt, tied as it was to an obsessive columnist

]]> By: steve martin http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9383 steve martin Thu, 01 Jan 1970 10:00:00 +0000 #comment-9383 Maybe the sky is falling,I don't know, but as sure as god made little green apples, you can be sure that neither do the economists. How many of this current crop were correctly forecasting the present crisis say 18 months ago - not many I would suspect.<br />Any sort of economic forecasting is fraught with danger because of the human factor, and the herd instinct. Maybe the sky is falling,I don’t know, but as sure as god made little green apples, you can be sure that neither do the economists. How many of this current crop were correctly forecasting the present crisis say 18 months ago - not many I would suspect.
Any sort of economic forecasting is fraught with danger because of the human factor, and the herd instinct.

]]> By: roger gestetner http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9384 roger gestetner Thu, 01 Jan 1970 10:00:00 +0000 #comment-9384 Well Bernard old chap, my view is that the media has been hysterical - led by Kerry O'Brien in his first astonishing GFC interview with Rudd. Also on the ABC, Alan Kohler gives the impression that he is rubbing his hands with glee every time there is some new piece of bad news to report. This morning's effort by Access Economics and Siobhain Ryan in StarShip NewsCrap was in the same vein: make a name for yourself and b*gger the consequences for everyone else. Make no mistake about it: this morning's headlines were about Access and Ryan/SS NewsCrap blowing their own trumpets. The public good has never been a consideration in coverage of the GFC. And as for the loopy Helen Suzman comments earlier, methinks the only people promoting the eternal boom have been that late and unlamented spendthrift John Howard and his gang, through the SS NewsCrap foghorn attached to his fundament. Well Bernard old chap, my view is that the media has been hysterical - led by Kerry O’Brien in his first astonishing GFC interview with Rudd. Also on the ABC, Alan Kohler gives the impression that he is rubbing his hands with glee every time there is some new piece of bad news to report. This morning’s effort by Access Economics and Siobhain Ryan in StarShip NewsCrap was in the same vein: make a name for yourself and b*gger the consequences for everyone else. Make no mistake about it: this morning’s headlines were about Access and Ryan/SS NewsCrap blowing their own trumpets. The public good has never been a consideration in coverage of the GFC. And as for the loopy Helen Suzman comments earlier, methinks the only people promoting the eternal boom have been that late and unlamented spendthrift John Howard and his gang, through the SS NewsCrap foghorn attached to his fundament.

]]> By: Lee http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9385 Lee Thu, 01 Jan 1970 10:00:00 +0000 #comment-9385 Last comment is it from Andrew Peter Thompson by any chance? Last comment is it from Andrew Peter Thompson by any chance?

]]> By: Peter O http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9386 Peter O Thu, 01 Jan 1970 10:00:00 +0000 #comment-9386 If the economy turns out not to be "buggered", does that mean that Access Economics reputation is "f-ked"...? If the economy turns out not to be “buggered”, does that mean that Access Economics reputation is “f-ked”…?

]]> By: Bohemian http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9387 Bohemian Thu, 01 Jan 1970 10:00:00 +0000 #comment-9387 The job of the economic forecaster is very similar to that of magician's assistant. They are there to befuddle the public while the state magicians pull off some sneaky sleight of hand. So look out. The magicians to whom we have delegated our authority are about to pull a swiftie. They are hoping we will be so distracted by the impending R or even D, that we won't notice their shameless grab for further power.<br />The US and the UK are much further down the track on this one and the public still seems to be asleep (even if awoken momentarily by the Obamacapades) before lapsing back into their disengaged stupor.<br /><br />We, on the other hand, should be thinking of how to capitalise onthe rest of the world's deficiencies instead of quaking in our boots at impending doom!. Get moving Australia..this is a period of unbridled opportunity as long as we don't wait around for the state to "save us'!<br /> The job of the economic forecaster is very similar to that of magician’s assistant. They are there to befuddle the public while the state magicians pull off some sneaky sleight of hand. So look out. The magicians to whom we have delegated our authority are about to pull a swiftie. They are hoping we will be so distracted by the impending R or even D, that we won’t notice their shameless grab for further power.
The US and the UK are much further down the track on this one and the public still seems to be asleep (even if awoken momentarily by the Obamacapades) before lapsing back into their disengaged stupor.

We, on the other hand, should be thinking of how to capitalise onthe rest of the world’s deficiencies instead of quaking in our boots at impending doom!. Get moving Australia..this is a period of unbridled opportunity as long as we don’t wait around for the state to “save us’!

]]> By: JamesK http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9388 JamesK Thu, 01 Jan 1970 10:00:00 +0000 #comment-9388 With apologies to Lizzie Browning: "How do I love to be rooted? Let me count the ways..."<br /><br />Welcome back Bernard Keane and well said.<br /> With apologies to Lizzie Browning: “How do I love to be rooted? Let me count the ways…”

Welcome back Bernard Keane and well said.

]]> By: Ted O'Brien http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9389 Ted O'Brien Thu, 01 Jan 1970 10:00:00 +0000 #comment-9389 But Steve Keen was indeed right, you know. Your party's over, and all of us have to pay. Why was it your party?<br /><br />The difference between Steve Keen and your industry commentators is that he is not paid to be biased. But Steve Keen was indeed right, you know. Your party’s over, and all of us have to pay. Why was it your party?

The difference between Steve Keen and your industry commentators is that he is not paid to be biased.

]]> By: Bernard Keane http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9390 Bernard Keane Thu, 01 Jan 1970 10:00:00 +0000 #comment-9390 Me too. "Thabo Mbeki"? That's the most obscure insult ever directed at me, and I've copped some hard-to-fathom stuff in my time. Does that mean CK was Nelson Mandela? Me too. “Thabo Mbeki”? That’s the most obscure insult ever directed at me, and I’ve copped some hard-to-fathom stuff in my time. Does that mean CK was Nelson Mandela?

]]> By: Tom McLoughlin http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9391 Tom McLoughlin Thu, 01 Jan 1970 10:00:00 +0000 #comment-9391 Problem 1: The media motives for jumping at this story. The only real news at the moment is the scandal in Gaza. Not the unravelling economy, not NSW politics but still these are preferred fodder. The big media have grabbed this economy story because Gaza is a bit morally complex but not nearly as much as we are told given Israel's air strike killing 5 or 6 on 4th November and 4 month food blockade during a truce. Problem is being Israel being an ally, and the ascendant politician here Rudd being totally okay it seems by his silence with 5000 plus dead and injured, there's no easy way to tell the truth. So much for Bonhoeffer. What a fake.<br /><br />There's no gain for any journo or politician or perhaps even media outlet who wants to speak up for Arabs over widespread prejudice. <br /><br />Problem 2: Access were a bit slow to buy into the China boom has 5 or 10 years still left in it in late 2007 early 2008 as I recall it. That scepticism is looking fairly good.<br /><br />Problem 3: The West and the world are living way beyond the ecological limits of this Planet, so a serious GFC is just what the doctor ordered. Never mind the human financial construct. I couldn't give a stuff about people losing their mindless, shallow lifestyle. If everyone downshifts and simplifies it will be an absolute blessing in big city amenity and quality of relationships, not to mention obesity. Go and do some gardening and get over it. Problem 1: The media motives for jumping at this story. The only real news at the moment is the scandal in Gaza. Not the unravelling economy, not NSW politics but still these are preferred fodder. The big media have grabbed this economy story because Gaza is a bit morally complex but not nearly as much as we are told given Israel’s air strike killing 5 or 6 on 4th November and 4 month food blockade during a truce. Problem is being Israel being an ally, and the ascendant politician here Rudd being totally okay it seems by his silence with 5000 plus dead and injured, there’s no easy way to tell the truth. So much for Bonhoeffer. What a fake.

There’s no gain for any journo or politician or perhaps even media outlet who wants to speak up for Arabs over widespread prejudice.

Problem 2: Access were a bit slow to buy into the China boom has 5 or 10 years still left in it in late 2007 early 2008 as I recall it. That scepticism is looking fairly good.

Problem 3: The West and the world are living way beyond the ecological limits of this Planet, so a serious GFC is just what the doctor ordered. Never mind the human financial construct. I couldn’t give a stuff about people losing their mindless, shallow lifestyle. If everyone downshifts and simplifies it will be an absolute blessing in big city amenity and quality of relationships, not to mention obesity. Go and do some gardening and get over it.

]]> By: Cathy http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9392 Cathy Thu, 01 Jan 1970 10:00:00 +0000 #comment-9392 There was an Andrew Peter Thompson involved in the Radio 2 or World Audio disaster where a radio station was created in the hope of it working on a digital licence that wasn't granted. So it folded and its multi-million dollar studios and business went into administration with the equipment auctioned off. A modern mechano venture with business gurus creating the mythical in case it became a reality. <br />http://www.smh.com.au/news/national/world-audios-digital-hopes-off-air-for-now/2005/10/14/1128796712358.html?from=moreStories There was an Andrew Peter Thompson involved in the Radio 2 or World Audio disaster where a radio station was created in the hope of it working on a digital licence that wasn’t granted. So it folded and its multi-million dollar studios and business went into administration with the equipment auctioned off. A modern mechano venture with business gurus creating the mythical in case it became a reality.
http://www.smh.com.au/news/national/world-audios-digital-hopes-off-air-for-now/2005/10/14/1128796712358.html?from=moreStories

]]> By: Victoria http://www.crikey.com.au/2009/01/19/the-peddlers-of-recession-p-rn/#comment-9393 Victoria Thu, 01 Jan 1970 10:00:00 +0000 #comment-9393 I have noticed the same thing myself. Some 'Economic Forecasters' get it so wrong, so often, that I wonder why they keep getting called back by the media. 'Don't they have any standards or accountabilty for their talking heads anymore?' I ask myself.<br /> Then, after I considered who keeps getting asked back, and especially in Chris Richardson of Access Economics case, it occurred to me. It's because he sounds authoratative and looks good. <br /> So, it appears that you no longer have to be right. As long as you fit the editorial agenda, sound authoritative, and look good, you'll always have a gig.<br /> Who cares if it upsets the horses? Or destabilises the economy? It makes for great infotainment and will be great for ratings throughout the year. I have noticed the same thing myself. Some ‘Economic Forecasters’ get it so wrong, so often, that I wonder why they keep getting called back by the media. ‘Don’t they have any standards or accountabilty for their talking heads anymore?’ I ask myself.
Then, after I considered who keeps getting asked back, and especially in Chris Richardson of Access Economics case, it occurred to me. It’s because he sounds authoratative and looks good.
So, it appears that you no longer have to be right. As long as you fit the editorial agenda, sound authoritative, and look good, you’ll always have a gig.
Who cares if it upsets the horses? Or destabilises the economy? It makes for great infotainment and will be great for ratings throughout the year.

]]>