When I picked up my copy of The Toronto Star last Monday (Oct. 4), I was greeted with the blaring headline "Economic boom times are over, says Flaherty." In the article, it was reported that Federal Finance Minister Jim Flaherty was saying that growth had slowed down from earlier this year and that recovering from the Recession would be a slow process. I don't take exception to any of that. However, I do take exception to the language used in the headline.
I would like journalists and politicians to stop talking about the economy and its ups and downs in hyperbolic language. The first half of 2010 saw solid gains in terms of recovering from the Recession. Most people know these gains were the results of stimulus programs put in place by the government. It was not an "economic boom." Similarly, the Recession did not just "end" one day as was so often declared early this year.
Grandiose statements and dire predictions about the economy get politicians quoted in the media and help sell newspapers and drive viewers to news programs. Dull as it sounds, what we need are people talking about the economy in plain, simple, truthful language--reasoned commentary that doesn't fill average Joes and Jills with false expectations or crushing fears. I think that Monday's headline should have been "Economic growth slows as expected"--calm, cool and correct.
