The language of the media

It seems to me that we all have a responsibility to provide data on the market in a pragmatic and accurate way and not to over hype a growing market or talk down a difficult market. I am an optimist, so find the language of the downturn hard to endure, but either way I suspect that some of the recent headlines do more harm than good.

I read with interest this morning’s headline story on www.emsnow.com, entitled ‘Economic Crisis Spurs Mobile-Device Shipment Contraction in 2009 - The once almost unstoppable growth in mobile-device shipments and revenues is coming to a screeching halt as wireless subscribers around the globe extend the life cycles of their existing devices in response to difficult economic conditions.’

The story came from an excellent source in iSuppli. I read on to the second paragraph to see that the mobile device market had contracted 1.1% in Q3. They then go on to say that the market is expected to contract 5.6% next year, then grow in 2010 and accelerate again in 2011. This with total numbers still over 1.2 Billion. Hardly a screeching halt!

This is a first class piece of analysis, with some excellent insight, but perhaps the title is a little severe? What do you think?

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Comment by Tom Forsythe on December 4, 2008 at 6:21am: Phil,

You are on the mark.

While there is more than enough bad news to go around, peopple that truly believe a 1% contraction is a screaching halt are a large part of the economic problem.

The data one hears touted in the US is that nearly 70% of the economy consumer spending. After a two year presidential campaign where both parties did little but disparage all things American (and yes it was a target rich environment), the situation has begun to evolve into a self fulfilling prophesy.

Then you have the speculative oil bubble inflate (to fan the flames) and delfate ~ now reported as a problem rather than a solution ~ all in a span of under 18 months.

Couple that sour environment with a bevy of ill advised mortgagee coming home to roost as icing on the cake.

With the steady feed of bad news, what consumer would not pull in their horns and shrink that 70% of the economy precipitously say 5 or 10%?

One wonders who and when someone in leadership will decide it is time to notice that there is a bit of water in the glass and ignore the distance from the lip?

A better tomorrow begins when someone decides to focus on what is getting better, hoepfully before the house burns to the ground.

Tom