The media caper

I set the stage in an earlier article responding to CBC in ‘Six of one’, I set a few issues there and even as I did not oppose the Canadian view, the stage is a lot bigger. And what happens? To my surprise it is ABC News who gives us another angle, one I contemplated and dropped because it requires evidence. This they handed to me when the search tool gives us “Chinese developer Evergrande is likely to be in default, amid reports it has missed a final bond payment deadline, but markets are shrugging…” the article (at https://www.abc.net.au/news/2021-12-08/evergrande-default-debt-developers-china/100682242) gives the goods, yet there is the stage. You see It is the search text we see (as above) and the added “but markets are shrugging…” is not ANYWHERE in the article.

The article gives a lot, but someone using the media is playing a game with all of us. A stage that is about the fine parts, about the innuendo. It is a lot more subtle then “Why are your boobs so big? Are you a free-diver or do you have a pneumonia?” There is a real chance that a collapse hitting investors for their $18,000,000,000 out there and the media plays games? Yes, you think this is trivial, and to some degree it is. But this stage happens EVERY day. It happens in all kinds of ways and it happens all over the field, but we keep slamming China and Saudi Arabia, all whilst we get a distorted view by the media and it overwhelms millions of people. 

Why does it bother me?
Well we have some serious issues and our votes are buttered by alternating and adjusted views that the media gives us. They claim to be informing us, yet they adhere to other voices and those voices decide what we see. To be honest I was a little surprised to see ABC on that stage. For the most, them and several other papers are not inclined to be that active, so it is a rare find. When we go to the ABC site, we get a little more “but markets are shrugging off the news amid stimulus from China’s central bank.” Yet the article has merely one mention of stimulus “China’s growth slowdown in 2014-15, and the large stimulus [that] drove the economy’s recovery after the COVID-19 shock early last year”, as such it is not “amid stimulus from China’s central bank”. It is also hindered, and the article’s reference to the central bank is a mere “to lower borrowing costs”, to be honest this is the first time I notice ABC in such an action, they tend to be above board all the time that I looked into matters, so this was a find, there are other media outlets that have a simpler approach to their reporting integrity as I personally see that. 

So is there no issue with Evergrande? Yes there is and when that companies implodes and defaults the damage in China and far beyond those borders will be massive. There is an added station that it will almost directly halts China’s economic growth and it will impact Chinese lives all over, one firm losing that much will have larger impacts all over China. So the news is correct, the setting is not a positive one, yet the search-line and the article shows that the media is playing a dangerous game and when people do wake up they will want their pound of flesh. And when the people will demand the names list of stakeholders, I wonder how long the delay will be and how quickly these stakeholders will run (for their lives) to the nearest airport. 

We see the stage of social media and “Deception is a distortion with an intention to mislead users, analysts, organisations, etc.” So when that gets dealt with, will someone also deal with the generic media? I doubt it, but I can hope. 

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Filed under Finance, Media

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