‘cept it has, hasn’t it? While many blame the media for overhyping our collective financial woes and accelerating us all towards a depression, the industry is not immune to its own effects. In fact, last week News Corp blamed its quarterly losses of $6.4bn on a huge decline in ad revenue. Nobody is spending, because we’ve read in the papers and seen on the TV that it’s all rather grim out there, so you’re better off saving your pennies for a rainy day. So, as us media people trip over each other in the dole queue, you could argue that we’ve cut our collective nose off to spite our collective face.
But fear not. Seeing as I am completely ignorant of the inner workings of hedge funds, private equity, derivatives and the like, I can categorically sum the lot up as just imaginary numbers on a screen. Banking and finance? It’s all a bit mysterious and hard to wrap your arms around isn’t it? A bit like God. And I’m agnostic.
Let’s leave the bankers to it, eh and get working on something we can affect.
Confidence.
So, if the media helped fuel the speed of economic decline by undermining confidence, let’s just all get a bit of a collective cheer on and maybe, just maybe, we can chuckle our way back to the good times.
Party on.