The week that has gone by was a memorable one. Apart from the landmark launch of Nano, we learnt that the IPL now stands for International Premier League and not Indian Premier League. More importantly the stock markets seem to be clawing back and with it the sentiments seems to be improving. Is it the light at the end of the tunnel with regards to this downturn??I don't think so, if one were to believe what the papers report. In fact, may
be that's the problem. media today defines the mood and nowadays all we read about is the gloom and doom. I remember the heady days of 2007 where the papers were full of upbeat news. It is not as if there were no problems or issues then and similarly it is not as if there is nothing positive happening nowadays. However, the focus is on the downturn and hence our mood that we seem to have a very long way to go!!!
be that's the problem. media today defines the mood and nowadays all we read about is the gloom and doom. I remember the heady days of 2007 where the papers were full of upbeat news. It is not as if there were no problems or issues then and similarly it is not as if there is nothing positive happening nowadays. However, the focus is on the downturn and hence our mood that we seem to have a very long way to go!!! I end the musing with a quote attributed to Mr. Kishore Biyani. At a recent event, when asked about when the recession would end, he quipped; "The day we stop reading the papers!". Now, that's food for thought.
Have a great week ahead.
3 comments:
Comin from the media industry, i can tell you, many journalists are not even aware of what recession technically is.
It's true media gives gloom-n-doom stories now a days but I'm sure the same media shall beat the drum of recovery in excess in few days. Basically everybody wants to sensationalize and say "I told you that first".
I appreciate the effort of western media (CNBC/WSJ/Fox Business news) to create a buoyant atmosphere. Every time market makes a 3 days bull rally, you would hear someone declaring start of recovery. Not everything said makes sense but they deliberately try to relieve your nerves. They do their part to lift up from recession.
What i suspect Mr.Biyani means here is that when the real downturn(vaguely) is not happening at your backyard, you still go about your job the same way oblivious to the fact. After all we are not in a situation where so many our neighbors had lost a job or neither government is bailing out any particular institution. I also of the opnion that everyday tracking of stock price movement and attaching a trend and story (by media) is only a means to fill the white papers with black ink. The only interested parties would be the speculators here or a misinformed investor. I too wish with all of you that media shows little more care in handling the exuberance and depression rationally.
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