Categories: OLD Media Moves

Biz media claims of another Great Depression are nowhere near accurate

Irwin Kellner of Marketwatch writes Monday that the business media’s claims about the economy are overly melodramatic and simply wrong.

Kellner writes, “For example, in recent weeks, the broadcast and the print media have filed stories replete with scare words. You don’t even have to look at the tabloids to see what I mean.

“The front page of the New York Times recently described what it called ‘chaos’ in the financial markets.

“Not to be outdone, most of the first section of The Wall Street Journal one day last week was devoted to articles describing the ‘spreading crisis’ in our economy.

“And both newspapers have run stories using the word ‘depression’ more times than I care to count.

“Now, don’t get me wrong, I am not saying things aren’t serious out there, but another Great Depression? I don’t think so.”