Are you fed-up with talk of the recession?
David Bloch, MD of the Brightwater Group comments:
Are you fed-up with talk of the recession? 80% said Yes, 5% said No and 15% felt it was necessary. The statistics speak for themselves, so I will make my comments very short.
I too am tired of the obsession with the recession. I understand that we need knowledge and information. Only by us understanding that Ireland was in trouble and needed fundamental restructuring, were we able to address certain issues, like salaries, tax increases and the bank bail-outs. The constant bombardment and minute by minute analyses of the drama created a ‘state of fear’ that meant the people were prepared to accept anything. However, it’s not just that the realities of the recession were played out in full view; it’s that everybody’s worst nightmares were made headline news. This was and is unnecessary, and unhelpful.
People are not fed-up with financial news; I maintain that people are fed-up of scaremongering. News is news and by all counts financial news is part of that. Opinion should be left where it belongs and so should commentary. Negative news is no more or less valid than positive news – whether 2007 or 2009. The media have a responsibility to inform, not to form opinion. Let’s move on and leave Ryanair and BP’s share price where it belongs, in the Business Section.
Finally a word on the 'blame game': That too is unhelpful and unjustified. In fact, while major mistakes were made during the Celtic Tiger, there hasn’t been an endemic Irish culture of nepotism and general ‘dodgy dealing’ revealed. Mistakes were made by honest institutions and honest individuals and many courageous people are now bankrupt, and seeing my own company face meltdown in the face of the economic collapse, I only feel sorry for those individuals who were perhaps, gutsier than me (I never borrowed to expand). The fact is that while success might corrupt, failure corrupts a lot more!
80% is the biggest percentage vote we have ever had on a topic. You and I believe it’s clearly time to move onto a more normal life of balance, optimism and realism where the recession is simply one part of the world we live in NB. As promised, I will ensure the above poll is well publicised… though suspect I will face a new battle with the media!
Take this month's poll:
Will the new international austerity measures have a major impact on world growth?