Wednesday, January 28, 2009

Expectations

I can't help but think the minute any semi-respectable outlet says "the current economic climate has the potential to exceed the Great Depression in severity" or somesuch, it'll be picked up and recirculated to the point where most papers are headlining "experts forecast worst economic downturn ever" in a matter of days - and in turn helping to fulfill that deadline.

It's hard to tell a compelling story where modern communications technology does not have the potential to compound a recessionary shock much more quickly than in the telegraph days.

1 comment:

Matt Nolan said...

Very true. If only we understood expectation formation ...