The British media’s obsessive coverage of what they hope will become a recession is comparable only to their coverage of the weather. Normally the BBC only get breathless with anticipation when there’s been a couple of inches of snow somewhere and one of their news editors has had to spend 15 minutes longer than usual driving into work.
But that’s nothing compared to their pure excitement at the prospect of a recession. Amid all the coverage today of “the biggest fall in house prices in 15 years”, there’s been hardly a mention that house prices are still higher than they were this time last year. Fact is, a recession would be a big news story, and there’s nothing the media like better than a news story, regardless of who has to pay the price.
But here’s the really bad news, for the media, anyway: there isn’t going to be one. And that’s thanks largely to GB’s management of the economy since 1997. Watching the likes of Nick Robinson salivating at the thought of repossessions and mass unemployment is entertaining, but is that really what the BBC is for?