The Business of News – There’s Something About Forecasts and Predictions

If you have to forecast, forecast often.” – Edgar R. Fiedler in “Across the Board: The Three Rs of Economic Forecasting — Irrational, Irrelevant and Irreverent”

These are my personal views and don’t represent anyone else or any organization. I recognize this is a hard debate that doesn’t have a “right” or “wrong” answer.

At some point, “reporters” in the news business have to ask themselves what makes a story? Should a news media outlet report on a “story” because some US stations started reporting on it? And then your local competitions (in Canada or anywhere doesn’t matter) start reporting it? Should reporters follow? Or may be news is sometimes just entertainment, just a business to make some money, and a looser standard is applied?

I posted this elsewhere yesterday, out of annoyance. For the record.

“Thank you press & media for reporting on crazy prediction in last few days AND tomorrow! We really have nothing better to do than wasting our time!

P.S. Thanks in advance for reporting on this same nutty group’s prediction in 2021 or whenever because stupid/nutty/crazy news widely reported everywhere is better than no news day, right?!”

P.P.S. I did not include any links in this post in order not to give the crazy story any added attention and, more importantly, to try to turn this into a general discusion.

Comments are closed.

%d bloggers like this: