The eternal paradox about what is commonly called journalism is why so many people who commit it manage not to see what’s going on before their eyes, even as a reasonable number of others, in and out of journalism, do.
Ever wonder about what’s happening in the global economy? Well, here it is, a summary which could fit on the back of an envelope, and it’s even perversely funny:
“Quarterly GDP data don’t, on the whole, tend to make the person studying them laugh out loud. The most recent set, however, are an exception, despite the fact that the general picture is of unrelieved and spreading economic gloom. Instead of the surge of rebounding growth which historically accompanies successful exit from a recession, we have the UK’s disappointing 0.2 per cent growth, the US’s anaemic 0.3 per cent and the glum eurozone average figure of 0.2 per cent. That number includes the surprising and alarming German 0.1 per cent, the desperately poor French 0 per cent and then, wait for it, the agreeably frisky Belgian 0.7 per cent. Why is that, if you’ve been following the story, laugh-aloud funny? Because Belgium doesn’t have a government. Thanks to political stalemate in Brussels, it hasn’t had one for 15 months. No government means none of the stuff all the other governments are doing: no cuts and no ‘austerity’ packages. In the absence of anyone with a mandate to slash and burn, Belgian public sector spending is puttering along much as it always was; hence the continuing growth of their economy. It turns out that from the economic point of view, in the current crisis, no government is better than any government – any existing government.”
(From an opinion article by John Lanchester in a recent London Review of Books.)
That paragraph alone is worth column inch after column inch of sententious pieces in the American press attempting to convey what the hell the U.S. Congress is up to—yes, even in the New York Times, most of whose staffers appear not to read what Professor Paul Krugman writes on their own op-ed page. We’d be better off without this current Congress, wouldn’t we, so why not just say so? This is not an endorsement, by the way, of the Tea Party anti-government ideology, just a glum statement of observable fact.
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