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Media still gets it wrong...

Discussion in 'The Economy' started by AsxBroker, 30th May, 2009.

  1. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi all,

    Strangely the media seems to have a VERY short memory of last years HUGE interest rates...

    "...UNLIKE previous recessions, which were heralded by skyrocketing interest rates and lengthening job queues, the global financial crisis hit the banks first. As confidence collapsed, property sales slumped at the same time the banks turned off the money tap. Stock values evaporated as the sharemarket went into free fall."

    Can anyone honestly tell me they don't remember interest rates skyrocketing last year? I sure do!!! (Less than 12 months ago)...

    Shame on the media for lying to the Australian public :mad:

    Whatever happened to making False and Misleading statements?

    King tide
     
  2. joanmc

    joanmc Well-Known Member

    Joined:
    10th May, 2009
    Posts:
    72
    Location:
    brisbane
    I agree with you! The media seems to pander to the ignorant and credulous don't they, safe in the knowledge that 90% will not ever check the facts to pull them up.
     
  3. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
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    Location:
    Brisbane, QLD
    ""...UNLIKE previous recessions, which were heralded by skyrocketing interest rates and lengthening job queues"

    Don't worry I'm sure if you give it a few more months almost all developed countries will see their mortgage rates moving higher, with thier job queues getting longer, and the real recession part of this recession will begin.

    Mortgage rates in the US have gone up like 0.5% in the last few weeks alone.
     
  4. islandgirl

    islandgirl Well-Known Member

    Joined:
    18th Sep, 2006
    Posts:
    118
    Location:
    Middle of beautiful Moreton Bay, Qld
    Is it any wonder why I stopped reading the paper and listening to the news! If you want to be really informed then you do your own research and not listen to the media beat ups.