Can the information on this BBC News page about the Euro crisis be trusted?

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authentic8's picture
authentic8
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Can the information on this BBC News page about the Euro crisis be trusted?

I'd like to ask the forum members' opinions of the videos presented by the BBC here purporting to explain the global crisis:

http://www.bbc.co.uk/news/special_reports/global_economy/

The 60 second video clips in particular. I don't know enough to critique them adequately myself but there are a few things that make me suspicious that the truth is not being presented accurately having watched the crash course several times.

Something that bothers me also is the headline on the videos "A New Global Economy". It's not like this economy is anything new  - it's the same old broken thing we've had for decades - although perhaps the phase we are entering is new, as is some of our experiences. The phrase just makes me feel something is being spun at me and that someone wants to prepare me to see a more centralized control of a unified global economy is trying as a good thing - like a brand new car or a new pair of shoes - which is something I cannot accept. So given that spin I become also suspicious of the other information presented to me.

As I said, I don't know finance and economic well enough, but I trust the community here and respect your knowledge and insight. Any opinions shared are welcomed.

authentic8's picture
authentic8
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Sorry for the typo.

Sorry for the typo. Correction: "...someone wants to prepare me to see a more centralized control of a unified global economy is trying as a good thing"

logBurner's picture
logBurner
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Joined: Sep 26 2008
Posts: 58
correct to be suspicious

 I could write for decades but I do believe the bbc fear some riots when reporting. For a good explanation of recent events google Greg Peytel a pyramid, written a few years ago but in uk house of parliament library. Debt has now been transferred from banks to gov and it will never decrease, I will happily give my full view if you are interested but I don't have crystal ball. 

authentic8's picture
authentic8
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Posts: 9
logBurner wrote:  I could
logBurner wrote:

 I could write for decades but I do believe the bbc fear some riots when reporting. For a good explanation of recent events google Greg Peytel a pyramid, written a few years ago but in uk house of parliament library. Debt has now been transferred from banks to gov and it will never decrease, I will happily give my full view if you are interested but I don't have crystal ball. 

Oh yes, feel free to write as much as you feel able. I am voraciously reading as much as possible on the subject but my suspicion and lack of expertise myself make it harder for me to trust what I am reading/hearing. I only know I am convinced of what Chris Martenson says in the Crash Course because he presents it in such a clear and irrefutable way.

Thanks for the reading recommendation. I will look it up right now.

pinecarr's picture
pinecarr
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Joined: Apr 13 2008
Posts: 2244
authentic8 wrote: Something
authentic8 wrote:

Something that bothers me also is the headline on the videos "A New Global Economy". It's not like this economy is anything new  - it's the same old broken thing we've had for decades - although perhaps the phase we are entering is new, as is some of our experiences. The phrase just makes me feel something is being spun at me and that someone wants to prepare me to see a more centralized control of a unified global economy is trying as a good thing - like a brand new car or a new pair of shoes - which is something I cannot accept. So given that spin I become also suspicious of the other information presented to me.

As I said, I don't know finance and economic well enough, but I trust the community here and respect your knowledge and insight. Any opinions shared are welcomed.

Hi authentic8.  I am off to work, but just wanted to quickly comment that I think you are wise to trust your instincts and question any information that comes your way, especially if it triggers your suspicions.  I do not know enough about the specific source you are asking about to comment about it.  But Chris has always advocated that we need to trust ourselves first and foremost.

From a personal perspective, I also find my suspicions triggered when I hear phrases such as you mentioned.  It does smell like "spin" (or something less appetizing!;)

Also, from a personal perspective, I have found that there will be sources that i like a lot for a long time, and then one day may see they have an article where I really disagree with the underlying premise or beliefs.  The lesson for me was that it is ok to like and trust certain sources more than others, but that I should never equate that with giving any of those source my "blanket trust".   

I think it is wise to learn from and weigh-highly the opinions of others whom we respect (like some of the outstanding minds here at CM.com and other free-thinking web-sites).  But in the end, after digesting others' inputs, trust yourself.

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
 I'm afraid those of us in

 I'm afraid those of us in the UK have learnt to take BBC News with a pinch of salt.

The BBC are notorious for pushing the case for man made climate change. C02 emissions are now used as a good reason to tax us here in the UK, so the government would be mad to let the BBC cast doubt on this.

I guess the same goes for making excuses to put up taxes to bail out the banks.

authentic8's picture
authentic8
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Joined: Oct 11 2010
Posts: 9
Thanks for all your replies.

Thanks for all your replies. I will continue to trust my instincts and add to my education so that I can critique such things with informed insight. This website and forum I find one of the best places to do that.

Best wishes

SteveW's picture
SteveW
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Posts: 490
Why banks go bust

I watched this 60 second sound bite. It was trivial. There was no mention of leverage. If the rest are like this then I would classify them as fairy tales for 6 year olds.

authentic8's picture
authentic8
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Joined: Oct 11 2010
Posts: 9
SteveW wrote: I watched this
SteveW wrote:

I watched this 60 second sound bite. It was trivial. There was no mention of leverage. If the rest are like this then I would classify them as fairy tales for 6 year olds.

Thanks for watching the video and letting me know your thoughts.

I thought the videos were aimed at average citizens (UK) who are mostly clueless and disinterested in economics and  aimed at catching this kind of person up with the facts. I was interested, though, whether if that kind of person went on to read the whole section of articles, would they be getting an unbalanced view. After watching the videos I doubted it but didn't know enough to say for sure whether the written articles were in any way factually incorrect or biased.

This was what concerned me, though; with someone totally new to this topic it would be very easy to slip in very subtle distortions and impressions designed to steer a person toward a particular point of view. The BBC is quite often critiqued for being subtly (or egregiously, depending who you talk to) pro-EU and pro-globalist despite saying it is independent and impartial (as it it's government remit). I don't see the bias that often, to be honest, mostly hear that from other people (who often also have an axe to grind), but in this case I felt it was quite obvious.

I'm less likely to use the BBC as a source of factual information to learn more about economics if I think they are trying to promote or push a particular agenda, particularly like a single worldwide currency and I don't think globalism will make our problems better, only worse but with less chance for us to turn it around if it all goes wrong.

 

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