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The Forum > Article Comments > Too much economy > Comments

Too much economy : Comments

By Kym Durance, published 30/5/2006

Oil prices, stock markets, currencies, interest rate speculations: saturation economic reporting?

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Kym, you are proposing what? More air time for Big Brother?

I will concede that some of the talking heads do not have a clue what they are talking about and, in fact, often get it wrong when they vary from the script. However, I would hope that by providing economic news to the large couch potato population we just might be providing a little bit of education about other things happening in our country and our interdependence with the rest of the world.

Maybe some of the proletariat might start to understand why unskilled and semi skilled Aussie jobs are at risk and can not be saved just by legislating higher wages and job protection.
Posted by Bruce, Tuesday, 30 May 2006 9:40:42 AM
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Great article.

I am a self-confessed news junkie with an interest in a wide variety of social and politcal issues, including the economy. But the amount economic mumbo-jumbo rammed down our throats is ridiculous, if it was balanced with frequent reporting on the state our schools, hospitals and other institutions effecting the public interest I may be lesss cynical.

It ties in with government and the media trying to turn us into walking, breathing (but hardly living) consumers
Posted by Carl, Tuesday, 30 May 2006 9:43:15 AM
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It is not economics. If it were it might be of interest- in small doses. People talk of deficits and surpluses as if they really knew what they were talking about. Why do not reporters ask the really simple questions: "Mr treasurer what actually is a XXXX? Explain how the a surplus can be saved for the future given we have a fiat currency?
Posted by Richard, Tuesday, 30 May 2006 12:09:52 PM
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I do not know what you are complaining about. Knowledge of the economy is vital to shareholders and others who invest. The average Australian would benefit greatly from a knowledge of what economies are doing, for example to understand where Superannuation Funds are going. Far to much time is spent on reporting sport and I believe not enough on economic news. The commercial evening news programs hardly touch it. As for the Governor of the Reserve Bank I would not take too much notice of his views on what people and investors should know. He has made interest rates too high and the so called credit card reforms have made most people worse off.
Posted by baldpaul, Tuesday, 30 May 2006 3:41:04 PM
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Shades of Clive Hamilton's "Affluenza" ...
Posted by rembrandt, Tuesday, 30 May 2006 7:18:26 PM
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I believe the 24/7 commentary on the value of the
$A and copper futures etcetera is ridiculous as per your other contributors. Even more fantastic from a professional journo's view is the regular reporting of business and consumer confidence indicators. Anyone who follows news reporting will attest to the way these 'economic indicators' can be contradictory and contrary over a 24 hour period. Better to have a wellbeing indicator, a births tally or even a 'hospital admissions' indicator. It wouldn't be too hard to assemble. News organisations have a lot to answer for in the way they have made economic 'talking heads' the fashion across the board, like chefs and 'A list' officionados.
Posted by jup, Tuesday, 30 May 2006 9:57:26 PM
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I agree with Richard. Financial data is not economics. And it would be nice if journalists asked meaningful questions rather than offering superficial answers.

Having said that it still takes too long for me to find the gold price in the newspaper on those days when I go looking for it.
Posted by Terje, Tuesday, 6 June 2006 11:15:57 PM
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We can have an environment without an economy, but we cannot have an economy without an environment.

Where is the news coverage on the state of our environment.

How much money was spent today safeguarding the envoronment?
Is the air in your city safe to breath today.
Is your tap water safe to drink?
How many tonnes of greenhouse gas did Australia produce today? (John Howard a major contributor).
Posted by Peace, Sunday, 11 June 2006 9:41:46 PM
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Too much macro-economics and little or no micro-economics in the news I would say.
Posted by savoir68, Sunday, 25 June 2006 7:11:25 PM
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Every religion needs constant reinforcement, especially ones with as many impossible beliefs as this one. But that doesn't mean stock prices are irrelevant, its our retirement funds they're gambling with.
Posted by Liam, Monday, 26 June 2006 10:19:46 AM
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Gayle -- curious way to find out IF KYM is the same Kym Durance, i knew in schooldays -- if so HI! Lets exchange a few parenting/being kids once -- ourselves --- moments. If not, let a world of wide eyes wonder why people take an opportunity just to touch base with old times. SMILE & take time out from today to visit with an old friend. :-) not everyone has hidden agendas :-)
Posted by SWEENEY, Saturday, 19 August 2006 12:48:35 AM
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Sweeney it is indeed I - I shall seek you out as best i can. :) rgds Kym
Posted by INKEEMAGEE2, Sunday, 5 November 2006 11:31:39 PM
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