Lower West Stander
Well-known member
It's a very difficult line to take right now that the panic over this will be far more devastating than the virus, but I have got a feeling that in a few weeks this will start to shift. I am extremely concerned that the tone of news reporting, the contextualising of this event (or lack of) and conflicting motivations within the media has been a contributing factor to our current dilemma that is not fully appreciated and addressed right now, or even questioned.
Totally agree with you.
I work in a front office in the City and peak fear always overshoots. The discussions now are all about when to go back in. It’s easy to forget the GFC and how bad that was. There’s far less leverage now than there was then and bank balance sheets are far stronger.
Markets have already tanked 30% and may go lower but this is a demand issue and I think we’re likely to see a sharp pop back when top lines stabilise. We won’t go back to where we were before but it’s surprising how things recover from shocks like this.
And like you, I’m worried about the lack of scrutiny on how this is reported in the media. There are no checks and balances on what they say or how they are regulated.
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