Who is Kevin Young & why are his media releases news?
Posted by Don Arthur on Sunday, May 30, 2010
Kevin Young of The Investors Club (TIC) wants a royal commission into the Reserve Bank’s interest rate decisions — or as TIC’s web site puts it "an royal enquiry into the banking industry". According to the ABC:
The Investment Club says interest rates in Australia are among the highest in the developed world.
The club wants rates to be cut by 2 per cent to bring them into line with countries like New Zealand.
Investors Club president Kevin Young says the RBA has repeatedly breached its own charter.
"On our website we’ve listed 80 breaches of their own charter," he said.
"They’re a completely non-elected group who can destroy our lives. Their crystal ball is flawed."
Why do news outlets like the ABC and AAP and the Herald Sun keep treating Kevin Young’s comments as news? Here’s a few of the things I read while I tried to figure out if Young was a useful source of information and analysis on banking:
Magic goes out of Wizard from Oz roadshow for TV property star, Tony Levene, The Guardian.
ASIC obtains orders winding up Queensland property schemes, Australian Securities and Investments Commission (ASIC) media release.
You can bet your house on it, Sydney Morning Herald.
White knight Jenman gets short shrift, Adam Schwab, Crikey.
So what do you think? How much weight should I give Young’s comments on the RBA?
This entry was posted on Sunday, May 30th, 2010 at 8:01 PM and filed under Uncategorized.
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This is general media form, why is Melinda Tankard Reist regarded as a feminist, the ‘Australian Defence Association’ (an NCC relic from the 1960s) regarded as a respected voice on defense policy etc. But as a Arts lecturer I ask myself how to help students and future jouranlists develop a bullshit detector?
Posted on 31-May-10 at 9:02 am | PermalinkBullshit detection is not the issue here. Lazy, or at best, deadline-pressured reporting is.
Why seek out the exact expert when you can just call the same person over and over? Why double-check their statements when you can just plop it into the screen and get your 500 words in by deadline?
Posted on 31-May-10 at 12:36 pm | PermalinkJacques is right. I long ago noticed that the press kept going to the same non-experts over and over for comments on the few specific issues that I can claim genuine expertise on, so extrapolated to assume they do the same for all the issues I’m not an expert on.
Posted on 31-May-10 at 2:31 pm | PermalinkI think you’re being far too generous in saying that go to the same people. This implies far too much agency. These people come to the reporters and are resourced to do so.
Posted on 31-May-10 at 4:52 pm | PermalinkLike the ABC’s uncritical lapping up of any emmission from Clive Hamilton and Richard Deniss, for instance.
Posted on 31-May-10 at 5:21 pm | PermalinkSorry Neil!
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