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The arrival of Black September on Wall Street focused an unwanted spotlight on the cracks in the United States economy, not to mention free market capitalism. In terms of journalism, Black September also highlighted deep deficiencies. Namely, how the mainstream media went AWOL for much of 2008 in covering the U.S. economy and the state of the financial markets.
I cannot say I was surprised, but I was interested that, even a week after Black Monday, there were few magazines on the news-stands with much of anything on the crisis. Granted, there is usually a week between issues, but really! No one foresaw this coming? I did....
The magazine that I love to hate, that beat the drums incessantly for the Iraq War, that tells middle-managers what to think, the Economist, was virtually a financial-crisis free-zone. And they are the experts on economic matters? Or was it that they did not want the suckers to see it coming? __________
